From Yahoo Finance: 2025-03-23 12:34:00

When planning for retirement, focus on long-term strategy over short-term news, advises Nick Nefouse of BlackRock. With a lifespan of 20-30 years post-retirement, starting financial planning in your 20s is crucial. Viewing risk as a lifecycle concept and utilizing tools like target-date funds can enhance retirement savings. Consider all options like HSAs, Roth 401(k)s, and traditional 401(k)s when making financial decisions. HSAs are powerful for saving on taxes in retirement due to their triple tax advantage: pre-tax contributions, tax-free growth, and tax-free withdrawals for medical expenses. Prioritize accounts with employer matches like 401(k)s and HSAs. Retirement is evolving with partial retirements and encore careers becoming more common. Planning early, understanding Social Security, and building multiple income sources are key to a successful retirement transition. Deferring Social Security benefits until 70 can result in significantly larger payments.



Read more at Yahoo Finance: Retirement expert explains how to avoid common planning mistakes