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Here are the fivefinancial issues that retirees are most concerned about, along with strategies to manage those concerns.
Medicare doesnt cover everything, and even routine care has become more expensive.
Jason Bickler, co-head of individual markets at Global Atlantic, recommends annuities as part of a broader plan.
Bickler emphasized the importance of building a strategy that prioritizes both growth and reliability.
Annuities tied to market performance, offering growth with built-in protection, can help offset inflations impact on income.
As individual situations and risk tolerances are different, working with a trusted financial professional can help.
Diversifying a retirement portfolio can also help strike the right balance between growth and protection.
Prioritizing needs over wants, downsizing housing and delaying major purchases can help free up cash.
Thats particularly bad for retirees with variable-rate debt or family members who may need financial help.
Paying down high-interest debt should be a priority, as even small extra payments can ease the long-term burden.
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