More Americans aging into retirement are still paying down mortgages. Over the past three decades, the share of homeowners ages 65 to 79 with a mortgage rose from 24% to 41%.
"Private equity kind of always gets what it wants in Congress, but I think it's a bad idea. It's illiquid, the fees are very high. Private equity funds, for the most part, don't beat the stock market."
Nearly 25% of older Gen X and young boomer workers laid off in the past decade haven't found new jobs, with 11% taking pay cuts.
Spending hours at work while having a newborn at home, even with nanny support, can be challenging. Many new parents may choose to focus on family instead.
I pursued law solely because I saw it as a practical, respectable career, but I didn't love it. Before starting my first job, I came across the financial independence early retirement (FIRE) movement, and I saw it as a way out.
A trust is a legal arrangement where assets are managed by a trustee for the benefit of a beneficiary. They are popular estate planning tools to ensure financial security, control asset distribution, and potentially reduce taxes.
According to data from the Consumer Expenditure Surveys, the average retired household spent approximately $5,000 per month on living expenses, including housing and health care.