The hassle of making ready for retirement has by no means been a easy proposition for the typical working American, however within the view of economic planning knowledgeable and Bryn Mawr Belief director Jamie Hopkins, the outlook in 2023 for these leaving the workforce was about as advanced because it has ever been.
From contending with inflation and sequence danger to confronting higher longevity, right now’s retirees are grappling with so much, and lots of worry their hard-earned nest eggs will fall in need of their long-term spending wants. That doesn’t imply retirement isn’t an thrilling proposition for a lot of late-career People, nonetheless.
As Hopkins mentioned on a latest episode of ThinkAdvisor’s Ask the Retirement Knowledgeable podcast, retirement balances are as excessive as they’ve ever been, and there’s a groundswell of useful planning instruments and sources for buyers and advisors alike to attract upon.
With a versatile and adaptive strategy, Hopkins says, many People stand a good probability of having fun with a dignified monetary life after work. The actual fact is that may be a very thrilling time to be engaged on retirement planning subjects, Hopkins provides, and there’s a rising appreciation of the necessary position that monetary advisors play in profitable retirement outcomes.
See the slideshow for a rundown of eight key retirement points Hopkins is monitoring within the waning weeks of 2023 — and the way he expects the subjects to evolve within the new yr and much past.