Advisor.com connects you with participating unaffiliated third-party registered investment advisors (RIAs) through its matching tool or provides personalized investment advice via its in-house wealth management service, Advisor Wealth Management.With the help of a qualified professional, like those found through Advisor.com , you can easily plan when, where, and how you want to retire.Research from T. Rowe Price found that individuals with a formal financial plan had two to four times more wealth when enter ...

Core Insights - The article discusses the financial challenges faced by individuals nearing retirement, particularly focusing on Robin, a 73-year-old with no retirement savings and outstanding student loan debt, who is considering buying a home in the next three years [5][2]. Group 1: Financial Situation and Challenges - A 2025 study from Vanguard indicates that 60% of baby boomers aged 61 to 65 are not on track to maintain their current standard of living in retirement, with 56% of those aged 60 to 64 having no retirement savings [2][4]. - Robin's financial situation includes over $12,000 in student loan debt and no 401(k), highlighting the struggles of many older Americans in similar circumstances [5][2]. Group 2: Suggested Financial Strategies - Dave Ramsey advises Robin to live frugally, suggesting she "live on beans and rice," which metaphorically means cutting back on unnecessary expenses [1][2]. - To improve her financial situation, Ramsey recommends cashing in on a universal life insurance policy, paying down her student loan faster, and maximizing her down payment savings [3][18]. - The median sale price of a house in Arizona is $425,833, requiring Robin to save approximately $85,166 for a typical 20% down payment, which could take until she is 87 years old if saving $500 per month without interest [4]. Group 3: Tools and Resources for Financial Management - The article mentions tools like Rocket Money for budgeting, which can help users track spending and identify unnecessary costs, ultimately redirecting savings into retirement funds [8][9]. - AARP is highlighted as a resource for older Americans, offering discounts and guides to help manage finances and make informed decisions regarding Social Security and Medicare [11][12][13]. Group 4: Debt Management and Investment Strategies - The article emphasizes the importance of getting out of debt quickly, with methods like the avalanche and snowball techniques for debt repayment [14][15][16]. - It suggests that once debts are cleared, individuals should consider aggressive investment strategies to maximize returns, even if the savings horizon is short [24][25]. - Tools like Acorns can facilitate small, consistent investments by rounding up purchases to the nearest dollar, contributing to a smart investment portfolio [27][29]. Group 5: Savings and High-Yield Accounts - The Wealthfront Cash Account is presented as a viable option for growing retirement funds, offering a base variable APY of 3.30% and a promotional boost for new clients, making it significantly higher than the national deposit savings rate [32][33].

Investment Platforms - Acorns offers a service that automatically rounds up purchases made with debit and credit cards, investing the spare change into a diversified portfolio of ETFs, making investing effortless for users [1] - Fundrise Venture Capital aims to build a portfolio of top private tech companies, allowing individuals to start investing with as little as $10 [5] Retirement Planning - Consistency in contributions to retirement accounts is emphasized as a key factor in building a nest egg, with a focus on giving money time in the market rather than trying to time it [2] - A report from the Transamerica Center for Retirement Studies indicates that 64% of surveyed individuals did not retire as planned, with 58% retiring earlier than intended, highlighting the importance of financial preparedness [3] Regrets of Retirees - Many retirees express regret over not retiring earlier while in good health, suggesting that planning for a fulfilling retirement is crucial [4] - A significant number of retirees wish they had spent more during their early retirement years on experiences, indicating a need for better financial planning to allow for spending [11] Health and Wellness - Retirees often regret not prioritizing their health earlier in life, with over 85% of older adults relying solely on Medicare having chronic health conditions, suggesting that healthier habits could prevent many illnesses [18][19] Financial Tools - Apps like Rocket Money can help individuals track their spending and manage subscriptions, which can aid in redirecting savings into retirement funds [15][17] - AARP offers resources and benefits related to healthcare and financial planning, potentially saving members thousands of dollars [20][21]

Core Insights - The article emphasizes the importance of financial advisors in retirement planning, highlighting that over 90% of wealthy Americans utilize their services and report high satisfaction levels [2][3] - It discusses the challenges posed by rising living costs and the increasing concern among Americans about running out of money during retirement, with 64% expressing this fear [5][8] - The article outlines six key milestones for effective retirement planning, including debt elimination, healthcare planning, and social engagement [4][7][15] Group 1: Financial Advisors - Financial advisors are fiduciaries, legally obligated to act in clients' best interests, and can help create personalized retirement plans [1][2] - A significant percentage of wealthy Americans (over 90%) work with financial advisors, indicating a trend towards professional financial guidance [2][3] Group 2: Retirement Planning Challenges - The rising cost of living is making retirement planning increasingly difficult, with 64% of Americans worried about financial security in retirement [5][8] - Many retirees face debt burdens, with 72% of Americans over 55 having accumulated some debt, impacting their financial freedom [8] Group 3: Key Milestones for Retirement - The article outlines six milestones for retirement planning, including eliminating debt, finding a good healthcare plan, ensuring loved ones are taken care of, preparing a mental and social plan, and conducting a lifestyle trial run [4][7][15] - It highlights the importance of planning for unexpected medical expenses, which are a leading cause of debt among retirees [10]

Core Insights - A significant portion of Americans over 50 are unprepared for retirement, with 20% having no savings and 61% expressing concern about their financial readiness [1] - The trend of holding multiple jobs is increasing, with nearly 8.8 million Americans working more than one job as of September [1] Employment and Side Jobs - Individuals considering a second job should review their employment contracts and company policies regarding secondary employment [3][4] - It is not illegal to have multiple jobs, but potential conflicts may arise depending on state laws and non-compete agreements [3][4] - Employees may not need to disclose secondary employment if their contracts do not require it and if they are not working for a competitor [5]

Economic Conditions and Market Performance - The Federal Reserve has cut its benchmark interest rate, but inflation remains a concern, with the latest consumer price index showing a year-over-year increase of 3.0% as of September 2025, down from a peak of 9.1% in June 2022 [2][4] - The S&P 500 has increased approximately 14% year-to-date, while the Nasdaq Composite has risen about 17%, contributing to a 9% increase in the average 401(k) balance to $144,400 in Q3 2025, marking an all-time high [3][5] Inflation and Investment Strategies - Gold has seen a price surge of over 50% in the past year, making it a classic safe haven asset that is not tied to any single economy or currency [7][8] - Real estate has also proven to be a strong hedge against inflation, with the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index rising 45% over the past five years, reflecting increased property values and rental income [13][8] Investment Platforms and Opportunities - Crowdfunding platforms like Arrived allow investors to buy shares in rental homes with a minimum investment of $100, providing exposure to real estate without the burdens of property management [15][14] - Mogul offers fractional ownership in high-quality rental properties, with an average annual internal rate of return (IRR) of 18.8%, allowing investors to benefit from rental income and appreciation without significant upfront costs [17][18] Stock Market Insights - Stocks, particularly high-quality equities, are viewed as effective hedges against inflation, as companies can raise prices to maintain revenue and earnings growth [20] - Warren Buffett recommends owning an S&P 500 index fund for broad market exposure and diversification, which can be accessed through platforms like SoFi [21][22]

This story was originally published on Marketing Dive. To receive daily news and insights, subscribe to our free daily Marketing Dive newsletter. While marketers have set their sights on figuring out how to engage younger consumers, it can be easy to overlook those who are 50 and older. However, this group boasts $8.3 trillion in collective spending power and represents 180 million Americans.  Through its media network, AARP is able to harness the power of its nearly 38 million members to offer marketers ...

Core Insights - Saving money is particularly challenging for retirees living on fixed incomes, with 25% of U.S. retirees losing sleep over financial concerns and 27% spending at least an hour daily worrying about money [1] Group 1: Strategies for Saving - **Use Automation**: Automated financial tools can significantly enhance savings, with studies showing that users save 1.5 to 3.5 times more within a year of using automated savings apps [2] - **Tap Hidden Sources of Cash**: Many Americans have unused tech items worth an average of $2,459, which can be sold to unlock extra cash [3] - **Temporary Sacrifices**: Short-term lifestyle adjustments, such as relocating to a lower-cost area or moving in with family, can lead to substantial savings [4] Group 2: Additional Income Sources - **Renting Spare Rooms**: Many older Americans offset housing costs by renting out spare bedrooms, with average rents ranging from $600 to $1,000 per month, and over $1,200 in high-cost cities [5] - **Refinance or Negotiate Subscriptions**: Reducing recurring expenses, particularly housing costs which account for about 36% of a retiree's budget, can be an effective way to save [6]

“When in reality, they usually spend more because they have more time to do a lot of the things that they enjoy doing,” certified financial planner Uziel Gomez, founder of Primeros Financial in Los Angeles, told CNBC.Many adults plan for retirement, thinking that they can cut down expenses when they retire.Some older Americans have already expressed that the COLA isn’t enough to cover the rising costs of health care, housing and food. Their concerns are supported by Goldman Sachs Asset Management research, ...

Core Insights - The final five years before retirement are crucial for financial preparation, transitioning from a long-term strategy to a more aggressive approach [1] - Many older Americans are unprepared for retirement, with one in five adults over 50 lacking retirement savings, and median savings for those in their 50s and 60s being $441,611 and $539,068 respectively [2][2] Group 1: Retirement Savings Strategies - The Secure Act 2.0 allows older workers to significantly increase contributions to 401(k) plans, with catch-up contributions of $7,500 for those over 50 and $11,250 for those aged 60 to 63 starting in 2025 [4][5] - Individuals in their early 60s can contribute a total of $34,750 this year, including employer matches, to accelerate their retirement savings [5] - Despite these provisions, only 16% of eligible employees utilized catch-up contributions in 2024, indicating a need for greater awareness and action among older workers [6] Group 2: Retirement Income Planning - It is essential to develop a comprehensive retirement income plan, focusing not just on savings but also on withdrawal strategies, such as the 4% rule [7]