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By contrast, the real median household income was around $75,000.
With that in mind, heres what the experts think Gen Xers should buybefore they retire.
Long-Term Care Insurance
Long-term care insurance is another must-have for your future protection and peace of mind.
Long-term care insurance is essential for covering long-term care services, Cronin said.
It also helps safeguard your retirement funds from the high out-of-pocket costs associated with aging.
So its best to make any property improvements large or small while incomes are still higher.
Its also a good idea to have a separate fund forhome repairs, improvements and emergencies.
Even if that moneys never used, having it never hurts.
Solar Panels
If youre interested in having a more energy-efficient home, Cronin suggested installing solar panels.
This ones best for those who have enough time to make their money back from the purchase.
Thats a hefty sum for those living on a fixed retirement income.
However, the return on investment for solar panels is about 10%, per Forbes.
Travel
Have you ever dreamt of traveling?
If so, theres no better time to take those trips than now.
The experiences and memories gained through travel can also lead to a more fulfilled life and potentially happier retirement.
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