"While getting to retirement age can be a blessing and a curse, the reality of counting on the U.S. government to provide for your needs is not the best idea. The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67; for anyone born in 1960 or later, full retirement benefits are payable at age 67."
"Invest wisely and carefully While watching the AI boom explode, the stock market higher month after month is tempting for many, the reality for baby boomers is that you already had a technology boom in the 1990s that helped to launch your 401k's and pension funds higher. While some growth can be good to help counter sticky inflation, go with a small allocation of S&P 500 index funds like the SPDR S&P 500 ETF Trust ( NYSEArca: SPY)."
"Baby boomers can't risk the bulk of their assets being exposed to a stock market crash. A market crash, though devastating, is workable if you are in your 40s and making peak money. However, for baby boomers who have enjoyed unprecedented gains over the past 15 years, being overweighted to the stock market now is like picking up nickels in front of a bulldozer, and it could be a fatal shot to their retirement savings."
Full retirement age is 66 for people born 1943–1954, rises gradually for those born 1955–1960, and is 67 for anyone born in 1960 or later. The youngest baby boomers (born 1946–1964) are approaching retirement, making practical retirement strategies increasingly important. Investment allocations should be cautious, with a modest allocation to broad S&P 500 index funds while avoiding heavy exposure to technology-driven rallies. Protecting assets from major market crashes is critical because recoveries can take decades. Being overweight in stocks near retirement can severely damage savings. Conservative diversification and secure income planning are essential for a funded retirement.
Read at 24/7 Wall St.
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