From Yahoo Finance: 2025-06-08 12:05:00

Retirement brings freedom but also financial challenges. Up to 80% of older adults struggle financially in retirement due to the loss of a steady paycheck. A solid withdrawal strategy, diversifying income sources, and leveraging home equity can help. Market volatility impacts retirement income, requiring guidance from a financial advisor to navigate successfully.

Managing expenses in retirement is crucial for financial stability. Many retirees overspend initially, but tracking expenses and adjusting can help. Budgeting tools like YNAB can assist in tracking spending and saving, prioritizing financial goals, and simplifying financial decisions. Losing employer-sponsored benefits like health insurance can be a shock in retirement, leading to unexpected expenses. Long-term care insurance can provide coverage for expenses like in-home care or nursing home care, protecting your retirement nest egg.

Retirement is more than just financial planning. It involves finding purpose, social interaction, and a sense of accomplishment. Lack of purpose in retirement can lead to health risks like depression and cognitive decline. Volunteering, pursuing passion projects, or part-time work can help fill the void and lead to a fulfilling retirement.



Read more at Yahoo Finance: Here are 5 big things that disappear after you retire in America