Overcoming Retirement Hurdles: Tips for Building Wealth at Any Age
TL;DR Summary
Americans in their 50s face significant challenges in saving for retirement due to the shift from defined benefit to defined contribution plans, lifestyle inflation, student loan debt, high housing costs, and supporting adult children. To address these issues, individuals should maximize 401(k) contributions, manage lifestyle inflation by saving raises or bonuses, explore student loan repayment plans, consider downsizing housing, and have financial discussions with family members.
Topics:business#defined-contribution-plans#finance#financial-planning#lifestyle-inflation#retirement#savings
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