From Yahoo Finance: 2025-05-03 10:01:00

Preparing for retirement involves maintaining insurance coverage, deciding on Social Security, and ensuring financial longevity. Avoid common cash flow errors to secure a stable retirement. Be cautious of generic financial advice, as experts like Ramsey and Orman may not offer the best guidance for your unique situation. Consider individualized retirement savings plans and investment strategies to ensure financial security in the long run. Experts are divided on retirement advice: Ramsey suggests withdrawing 8% annually, while Orman advises spending even less than the standard 4% rule. Both have differing views on asset allocation and withdrawal strategies. The key is to tailor advice to individual circumstances and work with a financial professional for a personalized plan. 1. The stock market reached new highs today, with the S&P 500 hitting a record close of 4,700. Investors are optimistic about strong corporate earnings and the Federal Reserve’s decision to keep interest rates low.

2. In international news, tensions are rising between Russia and Ukraine as Russian troops continue to amass near the border. The United States and European allies have expressed concern over the situation and are calling for de-escalation.

3. COVID-19 cases are on the rise again in several states, with hospitalizations increasing in areas with low vaccination rates. Health officials are urging the public to get vaccinated and continue following safety protocols to prevent the spread of the virus.

4. A new study has found that eating a diet high in processed foods is linked to an increased risk of heart disease and stroke. Experts recommend incorporating more whole foods, fruits, and vegetables into the diet to improve heart health.

5. The United Nations has declared a famine in Ethiopia’s Tigray region, with millions of people facing severe food insecurity. Humanitarian organizations are calling for urgent international assistance to prevent a humanitarian crisis.

6. In sports news, the Los Angeles Lakers have announced the signing of All-Star point guard Russell Westbrook. The move is expected to bolster the team’s roster and improve their chances of competing for a championship next season.

Read more: 12 Reasons Retirement Advice From Dave Ramsey and Suze Orman May Not Work for You