"The problem, of course, is that costs for certain goods consumed by seniors continues to increase at a fast pace. Healthcare costs, food and living expenses are three buckets that none of us can really pull back from. We need to eat, heal up, and have a roof over our heads. It's as simple as that."
"Those who are looking to retire, collect social security checks, and sip cocktails on a cruise ship will almost certainly have to rely on outside capital to do so. Simply paying one's bills (be they property taxes for those with paid off houses, food, or occasional trips to the hospital) adds up. Those are the sorts of basics that social security can be relied upon for."
Government safety net concerns and geopolitical and macro headwinds create uncertainty while stocks remain at all-time highs, prompting nest-egg worries among retirees. Stocks trend higher about 80% of the time, and ownership of growth assets or businesses with solid cash flows has historically helped build and preserve retirement wealth. Rising costs for healthcare, food, and housing particularly strain seniors' budgets because those expenses are unavoidable. Retirees need disciplined spending and careful budgeting to reconcile fixed incomes with desired lifestyles and occasional travel. Prioritizing essential expenses, planning for inevitable cost increases, and holding income-generating growth assets can improve retirement comfort.
Read at 24/7 Wall St.
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