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Are We Sustainable Into Our Retirement?
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<p>[QUOTE="Joe Cortez, post: 15601"]</p><p><img src="http://saverocity.com/taggingmiles/wp-content/uploads/sites/16/2014/08/retirement-feature.jpg" data-url="http://saverocity.com/taggingmiles/wp-content/uploads/sites/16/2014/08/retirement-feature.jpg" class="bbImage " style="" alt="" title="" /></p><p></p><p>Generally speaking, when we use the term “sustainable,” we refer to manufactured spending and points hacking, in order to make sure we don’t kill the best deals. <a href="http://saverocity.com/taggingmiles/much-detail-deal-offer/">Trevor writes extensively about being a good steward of the community</a>, and “treading lightly” through our hobby. However, the sustainability I wish to write about today is our ability to travel well into our golden years.</p><p></p><p><strong><a href="http://crr.bc.edu/wp-content/uploads/2014/07/IB_14-111.pdf">The Center for Retirement Research at Boston College National Retirement Risk Index</a> suggests that half of today’s working families will not be able to maintain their standard of living once they retire</strong>. Additional data from the research center suggests that the Social Security trust fund will expire in 2033, with the disability insurance trust set to be exhausted in 2016. This leaves personal retirement accounts as the only sure thing left for future retirees.</p><p></p><p>Or does it? In January,<a href="http://www.nomadwallet.com/research-afford-retirement-travel/"> Nomad Wallet cited studies by two major financial firms – HSBC and Transamerica – suggesting that one of the top priorities of retirement is traveling, but many are afraid that falling short of those goals</a>. With the retirement picture uncertain for so many, are we sustainable to travel into retirement?</p><p></p><p>The good news is that, through proper money management and some creative spending tactics, one can still maintain mileage earnings well into retirement and beyond. <strong>This “hobby” that we all subscribe to allows us focus savings that would be reserved for travel to be adjusted to long-term retirement savings. </strong></p><p></p><p><a href="https://www.transamericacenter.org/retirement-research/15th-annual-retirement-survey/three-generations-infographics/three-unique-generations">Both Generation X and the Millennial Generation (including Gen Y) were born and raised on the 401(k) plan, and both see the value of saving now for a long retirement</a>. According to research done by the Transamerica Center, 84% of Gen-X participate in their Employer-Sponsored Retirement plan. And the median age that Millennials began saving for retirement was 22.</p><p></p><p>While both generations understand that 65 may not a complete target to retire, these groups will continue working because they enjoy what they do – not because they have to. By preparing for long-term stability through wealth management, there may be hope that our generation can keep traveling well into our golden years.</p><p></p><p>But with the devaluation of points, continual adjustment of sign-on bonuses, and the occasional collection of debt, there’s nothing certain about how far points will carry in the future. Plus, there’s only so much that points will pay for. You can catch the flight and stay at the hotel on points – but how will you eat and play while you’re away?</p><p></p><p><strong>How are you saving for your retirement goals?</strong> How do you plan on financing your retirement when you’re done working? What tips do you have for other Saverocity denizens? <strong>I’d love to hear your comments on the state of retirement!</strong></p><p></p><p><em>Ed. Note: The Tagging Miles Sunday Editorial is a weekly reflection of the authors opinions. Opinions expressed here are author’s alone, and do not necessarily reflect those of Saverocity.com, or any blogger in the Saverocity family of blogs. No compensation nor incentive was given to mention or link to any product or service in this article.</em></p><p></p><p><a href="http://saverocity.com/taggingmiles/sustainable-retirement/">Continue reading...</a></p><p>[/QUOTE]</p>
[QUOTE="Joe Cortez, post: 15601"] [IMG]http://saverocity.com/taggingmiles/wp-content/uploads/sites/16/2014/08/retirement-feature.jpg[/IMG] Generally speaking, when we use the term “sustainable,” we refer to manufactured spending and points hacking, in order to make sure we don’t kill the best deals. [URL='http://saverocity.com/taggingmiles/much-detail-deal-offer/']Trevor writes extensively about being a good steward of the community[/URL], and “treading lightly” through our hobby. However, the sustainability I wish to write about today is our ability to travel well into our golden years. [B][URL='http://crr.bc.edu/wp-content/uploads/2014/07/IB_14-111.pdf']The Center for Retirement Research at Boston College National Retirement Risk Index[/URL] suggests that half of today’s working families will not be able to maintain their standard of living once they retire[/B]. Additional data from the research center suggests that the Social Security trust fund will expire in 2033, with the disability insurance trust set to be exhausted in 2016. This leaves personal retirement accounts as the only sure thing left for future retirees. Or does it? In January,[URL='http://www.nomadwallet.com/research-afford-retirement-travel/'] Nomad Wallet cited studies by two major financial firms – HSBC and Transamerica – suggesting that one of the top priorities of retirement is traveling, but many are afraid that falling short of those goals[/URL]. With the retirement picture uncertain for so many, are we sustainable to travel into retirement? The good news is that, through proper money management and some creative spending tactics, one can still maintain mileage earnings well into retirement and beyond. [B]This “hobby” that we all subscribe to allows us focus savings that would be reserved for travel to be adjusted to long-term retirement savings. [/B] [URL='https://www.transamericacenter.org/retirement-research/15th-annual-retirement-survey/three-generations-infographics/three-unique-generations']Both Generation X and the Millennial Generation (including Gen Y) were born and raised on the 401(k) plan, and both see the value of saving now for a long retirement[/URL]. According to research done by the Transamerica Center, 84% of Gen-X participate in their Employer-Sponsored Retirement plan. And the median age that Millennials began saving for retirement was 22. While both generations understand that 65 may not a complete target to retire, these groups will continue working because they enjoy what they do – not because they have to. By preparing for long-term stability through wealth management, there may be hope that our generation can keep traveling well into our golden years. But with the devaluation of points, continual adjustment of sign-on bonuses, and the occasional collection of debt, there’s nothing certain about how far points will carry in the future. Plus, there’s only so much that points will pay for. You can catch the flight and stay at the hotel on points – but how will you eat and play while you’re away? [B]How are you saving for your retirement goals?[/B] How do you plan on financing your retirement when you’re done working? What tips do you have for other Saverocity denizens? [B]I’d love to hear your comments on the state of retirement![/B] [I]Ed. Note: The Tagging Miles Sunday Editorial is a weekly reflection of the authors opinions. Opinions expressed here are author’s alone, and do not necessarily reflect those of Saverocity.com, or any blogger in the Saverocity family of blogs. No compensation nor incentive was given to mention or link to any product or service in this article.[/I] [url="http://saverocity.com/taggingmiles/sustainable-retirement/"]Continue reading...[/url] [/QUOTE]
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