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However, with fixed incomes, retirement goals and inflation, finding balance can be tricky.
So, how much of each paycheck should boomers invest in themselves?
How Much Should You Spend?
Some experts said boomers should allocate 5% to 10% of their retirement income for self-investment.
This percentage can be adjusted based on current needs.
Smart examples of investments for boomers include dividend-paying stocks such as utility and healthcare companies.
Bonds are also a smart choice that can offer fixed-interest payments, Daniel said.
Health Savings Accounts (HSAs) are another smart choice and offer advantages to save for healthcare expenses.
Gold and precious metals, as well as long-term care insurance, are also wonderful choices for boomers.
Fixed annuities can offer a low-risk option for those who need reliable income.
However, that mindset is changing.
Retirement isnt the end of growth it can be a return to what matters most.
He is also the president and founding attorney at Legacy Counsellors, P.C.
We try and take care of ourselves so that we are healthy and live long lives.
Quinn posed a few final questions to ask yourself: Is it part of your purpose in life?
Are you spending your money in a way that supports your purpose in life?
Are you thinking about what your abundance can do for your family?
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