What We're Following Today August 14, 2020

Risks that Can Derail Retirement


It’s always a good practice to remind ourselves of the risks out there that could derail a retirement. This is a fairly easy read that outlines the basics like economic factors, level of risk we take on as we age and lose time for market recoveries and one more that I thought was good to call out - marital situation. Divorce is one of those things that can completely derail a retirement - so rather than thinking just emotionally about a divorce, it might be economically prudent to invest some money in your relationship over time - you’ll be glad you did AND your wallet will be too…

https://www.forbes.com/sites/ericbrotman/2020/08/12/risks-that-can-derail-retirement/#1fd5b40c1a45

Eliminating the Top 3 Fears of Pre-Retirees

The three fears mentioned in this article were 1) Fear of not having an income 2) Unknown cash needs of other family members, etc. 3) Rising cost of Medicare. As with most things Generation Bridge, we believe that planning and getting more information lead people to find solutions to our fears. Therefore, it’s good to assess what others are thinking, what others have done before you, and to have open conversations about these fears with those who might have input or a stake in the fight. With information and planning, we are less likely to lose “control” over the important decisions we face in our lives.

https://www.mcalesternews.com/news/local_news/williams-eliminating-the-top-3-fears-of-pre-retirees/article_16fb430f-2b91-53fe-a1ca-9b47cf956504.html

Facing Economic Hardships Like Struggles to Pay Rent, Taxes or More? Some Tips

Here’s a list of tips from South Carolina, but perhaps there could be tips in here for other areas as well. Ultimately the government imposed shut downs and the subsequent fears around getting back to a life where people congregate have led to some VERY REAL economic consequences that can put people in danger of literally losing their homes. That said, it also has created a lack of income flow coming in for landlords, etc. It’s all just a mess and we hope things change quickly to get back to a place of prosperity and unity. In the meantime, we all know people who may be in need of advice to keep their heads above water. This article will provide a couple of ideas around rent, child support, utilities and more.

https://www.heraldonline.com/news/local/article244900742.html




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