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Seniors

Found 2 blog entries about Seniors.

After putting years of work into your real estate career, easing into retirement can be an exciting time. But the luster can wear off quickly if you don’t have a good retirement income plan in place, especially if it becomes clear that retirement savings and Social Security income aren’t enough to cover expenses, says Jay Sharifi, an investment adviser and author of Building a Better Legacy: Retirement Planning for Your Lifetime and Beyond.

 Coins lieing on a clock face 

“Some people retire with no income plan at all, but that’s like flying without GPS and still expecting to hit your target,” he says. Saving money for retirement and planning your retirement are two different things, according to Sharifi. “When you fly, you want to know exactly where you’re going and how you

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Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016.

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

There are many who see that statistic and point toward how broad the range of respondents are for the Federal Reserve survey. Their study includes all economic and social groups and also includes all age groups. The argument is that

71 Views, 3 Comments

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