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3 changes boomers should make to their retirement strategies now that Trump is president again


Published on 2025-02-04 13:41:25 - AOL
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  • Baby boomers and others nearing retirement should pay careful attention to their investments, especially now that newly elected President Donald Trump is shaking up the economy. Regardless of whether you like Trump's economic policies, you need to be carefully preparing for retirement.

The article from AOL Finance discusses three significant changes that Baby Boomers need to consider for their retirement strategies. Firstly, longevity has increased, meaning retirement savings must now last longer, prompting Boomers to rethink their withdrawal rates and investment strategies to ensure their funds do not deplete too quickly. Secondly, healthcare costs are rising, and with longer lifespans, Boomers must plan for potentially higher medical expenses, including long-term care which might not be fully covered by Medicare. This necessitates looking into supplemental insurance or setting aside more funds for health-related costs. Lastly, retirement income sources have evolved; traditional pensions are less common, pushing Boomers towards more reliance on personal savings, 401(k)s, and IRAs, which require active management and possibly a shift towards income-generating investments like annuities or dividend stocks to provide a steady income stream in retirement.

Read the Full AOL Article at:
[ https://www.aol.com/finance/3-changes-boomers-retirement-strategies-134534319.html ]
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