Longer Retirements, Rising Prices: A Financial Challenge

Longer Retirements, Rising Prices: A Financial Challenge - As Americans enjoy longer lives, they face a new hurdle: extended retirements coinciding with inflation. With average retirement accounts at around $500,000 and life expectancy at 77.5 years, many may struggle to make ends meet. Traditional advice to shift to fixed-income assets may not suffice, as even a 2% inflation rate could deplete conservative portfolios. Experts now recommend a purpose-oriented portfolio strategy, dividing assets into categories like distribution, flexibility, healthcare, and legacy to ensure a more sustainable financial future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.