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Its no longer feasible to keep making the same amount without preparing for the years to come.
Below are some of the bills you wont be able to afford.
Also here are the eleven bills you should never put on autopay.
Healthcare
According to Burbank, healthcare, in particular, has become increasingly unaffordable.
By 2030, health insurance premiums alone may exceed $20,000 annually for families.
For small businesses, providing health benefits will be nearly impossible.
John F. Pace, CPA atPace & Associates CPAs, has equally seen this shift in costs.
And similar to Burbanks claims, he said small businesses will struggle to provide benefits.
Those in high-risk areas may struggle to find affordable coverage.
John Crist, founder ofPrestizia Insurance, noted the same.
Climate change is exacerbating natural disasters, and rebuilding costs continue to rise.
He agreed those in disaster-prone areas may struggle to afford coverage or even obtain policies at all.
By 2030, four years at a private school could top $500,000.
The student loan crisis will only worsen, saddling generations with crippling debt.
The cost of higher education has far outpaced inflation.
He noted that four years at a private college could top $500,000 by 2030.
Student loan debtwill crush generations.
Lifelong learning will be critical to professional success, yet it may be out of reach for many.
Burbank argued the same.
Retraining workers requires massive investments injob programs and educationthat may prove unaffordable.
He recommended seeking advice from a financial professional to maximizedeductions and tax benefits.
Other experts also weighed in.
Seek professional guidance onmajor financial decisions.
Collectively we must work to make these vital services accessible to future generations.
Burbank said planning and preparing is key.
Review insurance coverage and shop for lower premiums.
Start saving forcollege and retirementearly.
Upskill and adapt to changes in the workplace.
Make your voice heard and call on policymakers to make these critical services accessible.
Our future depends on it.
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