Stocks and Investing
Stocks and Investing
Fri, January 24, 2025
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7 Retirement Must-Knows for 2025
- Higher retirement plan contribution levels, lower 'safe' withdrawal rates, changes to Social Security benefits, and more.
The article "7 Retirement Must-Kows for 2025" from Morningstar outlines key considerations for individuals planning their retirement in the year 2025. It discusses the importance of understanding changes in Social Security benefits, including potential adjustments to the full retirement age and cost-of-living increases. It also covers the need to reassess investment strategies due to market volatility, inflation rates, and the shift towards more conservative investments as one nears retirement. The article emphasizes the significance of healthcare costs, suggesting that retirees should plan for rising medical expenses and consider long-term care insurance. Additionally, it touches on the evolving landscape of retirement accounts, like the potential changes to 401(k) and IRA contribution limits, and the benefits of Roth conversions. The piece also highlights the necessity of having a flexible withdrawal strategy to manage taxes efficiently and ensure funds last throughout retirement. Lastly, it advises on the importance of estate planning and understanding new tax laws that could affect retirement savings and inheritance.
Read the Full Morningstar Article at:
[ https://www.morningstar.com/retirement/7-retirement-must-knows-2025 ]
Read the Full Morningstar Article at:
[ https://www.morningstar.com/retirement/7-retirement-must-knows-2025 ]