Financial Challenges in Retirement - Social Security may not provide sufficient income, covering only about 40% of pre-retirement wages for average earners, with potential benefit cuts looming in about a decade [4][5] - Most seniors require approximately double that amount to meet expenses and maintain a comfortable lifestyle [5] - Rising healthcare costs are a significant concern, with Medicare expenses increasing and healthcare costs outpacing inflation, necessitating dedicated savings for medical expenses [7][8] - Stock market volatility poses risks for retirees who may need to withdraw from their portfolios, making it crucial to have a cash reserve for at least two years' worth of living expenses [9][10] - A balanced investment strategy, including a mix of stocks and stable assets, is recommended to mitigate risks associated with market fluctuations [11][12]
3 Financial Challenges Every Retiree Needs to Plan For
The Motley Fool·2026-01-04 08:36