6 sources·Business

Navigating Finances: Balancing Saving and Spending in Retirement and Beyond

Exploring the financial challenges faced by retirees and renters in the U.S., focusing on wealth management and definitions of success.

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Updated: Nov 26th, 2024, 6:12 PM ET

Summary

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Many retirees find it challenging to transition from saving to spending, often underspending in retirement. A related study shows Americans prioritize happiness over wealth as a success metric. Meanwhile, renters, especially those earning less than $25,000, face significant financial hurdles, with median net worth much lower than homeowners. Earning strategies and asset ownership are crucial for renters. Notably, generational differences in perceiving success highlight a growing gap between desired and actual earnings.

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