Swad Wealth Management’s Post

We all know that life is full of surprises—some wonderful, like finding a hidden treasure, and others, not so much. Unfortunately, certain unexpected challenges can disrupt even the best-laid retirement plans. I recently contributed to an article for AARP that focuses on five major obstacles that could potentially derail your retirement and how to address them. In the article, I shared some important insights on how to protect your retirement plans when faced with challenges like job loss or divorce: Losing Your Job: Over half of older U.S. workers experience job loss before they plan to retire. One of my key suggestions was to use budgeting tools like YNAB, Monarch Money, or Rocket Money to cut non-essential expenses and stay on top of your financial situation during such transitions. It's also important to use resources like severance and unemployment benefits before dipping into your emergency fund, taking only what you need, and keeping track to replenish it later. Divorce: Divorce rates among older Americans have surged, which can not only be emotionally devastating but financially devastating as well. I emphasized the importance of working with a divorce attorney and a certified divorce financial analyst (CDFA) to ensure an equitable division of assets. After the settlement, it’s crucial to reevaluate your retirement goals and possibly increase your retirement contributions. The article also highlights other unexpected challenges, such as health crises, caregiving responsibilities, and providing financial assistance to adult children—all of which could impact your retirement savings. To read the full article and get more insights from experts, check it out on AARP's website. It's called "5 Surprises That Could Derail Your Retirement Plans" Remember, the key to staying on track is proactive planning and understanding how to navigate these potential setbacks.

Divorce can impact your financial future, but it’s never too late to take control. Many middle-aged and older Americans face lower retirement balances and savings post-divorce. Protect your golden years by investing early in understanding your full financial situation. Let’s talk about securing your future today! #FinancialPlanning #Retirement

Retirement accounts and benefits make up a meaningful portion of many couples' wealth. Yet, these accounts are often poorly understood. It may not be the sexiest or most exciting topic, but knowing the ins and outs of retirement accounts can save you heartache, headache, and even money in your divorce. Here's my primer on the most common ones you'll see. 👇 https://lnkd.in/gR3pTyXB

Understanding divorce’s effects on your financial stability and retirement planning is vital. Additionally, considerations for Social Security, pension benefits, and estate planning, play a crucial role in ensuring financial security post-divorce.

Divorcees have lower average retirement balances, less savings, and a more limited monthly retirement income than married people. The numbers undergird the reality that an increasing number of middle-aged and older Americans are facing: The reverberations of their divorces will be felt long into their golden years. To protect yourself, invest early in understanding your full financial situation. Let's talk about it.

Divorcees have lower average retirement balances, less savings, and a more limited monthly retirement income than married people. The numbers undergird the reality that an increasing number of middle-aged and older Americans are facing: The reverberations of their divorces will be felt long into their golden years. To protect yourself, invest early in understanding your full financial situation. Let's talk about it.

Divorcees have lower average retirement balances, less savings, and a more limited monthly retirement income than married people. The numbers undergird the reality that an increasing number of middle-aged and older Americans are facing: The reverberations of their divorces will be felt long into their golden years. To protect yourself, invest early in understanding your full financial situation. Let's talk about it.

Divorcees have lower average retirement balances, less savings, and a more limited monthly retirement income than married people. The numbers undergird the reality that an increasing number of middle-aged and older Americans are facing: The reverberations of their divorces will be felt long into their golden years. To protect yourself, invest early in understanding your full financial situation. Let's talk about it.

Divorcees have lower average retirement balances, less savings, and a more limited monthly retirement income than married people. The numbers undergird the reality that an increasing number of middle-aged and older Americans are facing: The reverberations of their divorces will be felt long into their golden years. To protect yourself, invest early in understanding your full financial situation. Let's talk about it.

Divorcees have lower average retirement balances, less savings, and a more limited monthly retirement income than married people. The numbers undergird the reality that an increasing number of middle-aged and older Americans are facing: The reverberations of their divorces will be felt long into their golden years. To protect yourself, invest early in understanding your full financial situation. Let's talk about it.