Should You Invest In The Stock Market?

Whether you are close to retirement or not, and have some extra money, should you invest it in the stock market as of 2022? The short answer: Yes. Even though we are currently going through inflation and a possible recession, the answer is still yes. For as long as human beings are alive, money will be printed, worked for, and used to buy products and services. Whether you are in it for the long-term or the short-term, investing in the stock market will yield a greater return than any bank which currently believes that 0.01% or even 0.05% is doing you a favor.

I will tell you, if you must store your money in a bank from direct deposit or a short-term hold, than do so. Long-term, in my humble opinion, banks are really useless due to their greed. They could actually make a lot more money by offering higher interest rates, much more than the laughable 1% or 2% that they think is helpful. They have to abide by government regulations and all these prices are set, but the daring bank one day will provide 4% or 5% and this would show a shift in the banking system. It was once a thing and a thing of the past, and very unlikely to be seen again.

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Talking To Your Spouse About Retirement

If you've been together for a while with your spouse and you both have been working for the past many years, getting to see your children go off to college, leave home, get jobs, establish careers, meet the love of their lives, have children, start their own families, doing exactly what you and your spouse did, you might begin wondering what's next. You've accomplished it all... parent and grandparent, fur babies and flesh babies. You've both been so generous to get your children through the major milestones of their lives and even helping a little with the grandchildren. Now the time has come and you're both close to the age of retirement. What's next?

You'll both want to understand your finances and how you'll still continue to pay for bills. The best thing you both could do is hire a financial advisor to assess exactly what you both will retire with and how much you'll actually need during retirement. If you are both earners who were on the books for years, then you'll both have an amazing retirement and won't have to worry too much.

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Mentally Preparing For Retirement

You've thought long and hard about retirement, for many years, as if its like winning the lottery. The truth is that it's not quite like winning the lottery, although all governments are heavily involved in all things senior citizen when it comes to money and taxes. You have actually worked your whole life for the government to consider that because you are unable to work anymore after a time, the government will step in to help you in accordance to the length of time you have worked.

The money from the lottery and social security is from a giant pot of other people's money. Both systems are in place because of government regulations. Both are heavily taxed and regulated but one is there because you worked for it, while the other is there because you made a bet and got lucky. It is great to have both and winning the lottery remains a dream for many, while retirement becomes a reality for everyone.

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Things To Do Before You Retire

Retiring may seem like something that we just do, but it actually takes several years of preparation to understand when and how one will go about retiring and beginning retirement. You may look around at others who are already retired, some who are learning to enjoy their retirement, and others who have been retired for years, if you're able to meet them. I do know a 97 year old man, who has been retired for as long as he has been working. He retired over 35 years ago at 62 years old and is living in an senior-independent living facility.

There are several tasks that you can take now or even just a few years before you retire. These tasks involve assessing debts and assets, spending habits, and money flow or income. The more you do now to understand how and when you will retire will ensure an easy transition. Here are a few things to ponder about long before you hit retirement or if you are a few years away, or even planning to retire in the next few months.

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The Road To Retirement

Most of the focus on this website is all about retiring and retirement. There is always good reason to ponder: "What will I be like in retirement? What will I be doing? How much will things cost in retirement? How am I going to live in retirement?" Fortunately, all of these are fair questions to ask and none that should have you spending more than a few minutes wondering.

If you think about how you are going to be in retirement, the chances are, unless you hit the lottery, acquire an inheritance, or somehow become determined enough to make a product that no one knew they needed but loved, you're probably going to live the same exact lifestyle that you've been living for the previous decade. You probably spend around $200 or $300 a month on groceries, another $200 or $300 a month going out to eat, $50 a month on gasoline, $300 a month on utilities, and your mortgage is probably nearly paid off or is affordable. So your expenses are likely to be around $1200 - $1500 per month. Fortunately, if you did work your whole life, your social security check will cover nearly all of that. Add in a 401k, an IRA, or a pension, and you will be fine.

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