Short-term news distracts from long-term planning
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retirement savingsYahoo Finance
•Health
Health
Retirement expert explains how to avoid common planning mistakes
78% Informative
Nick Nefouse says people often get caught up in short-term news rather than focusing on the long-term strategy.
He says a person in their 20s will spend about 45 years saving for retirement.
People often tend to fixate on their account balance, reluctant to spend it in retirement.
BlackRock offers a publicly available LifePath spending tool on its website.
Many people are opting for “partial retirements” or “encore careers” rather than stopping work entirely.
Many Americans don’t follow a strict retirement date.
Social Security plays a crucial role in this transition.
“The longer you defer, the more money the Social Security Department will give you,” Nefouse said.
VR Score
79
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76
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52
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English
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long-living
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