Many baby boomers are feeling anxious as retirement approaches, especially with current market uncertainties. Those planning to retire within five to ten years should concentrate more on preserving capital than on seeking growth. Indeed, pulling funds from the market can lead to lost opportunities, forcing some to reassess their retirement plans. Key strategies include understanding retirement expenses and tracking one's financial progress, as the average American will require about $1.26 million for a comfortable retirement by 2025. This reality emphasizes the importance of robust financial planning to ensure comfort in later years.
The average American is expected to need at least $1.26 million to retire comfortably as of 2025.
Finding the right investing strategies to stick with in these uncertain times should be the goal for approaching retirees.
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