Americans over 61 years old saw their average financial wellbeing score decline 3 points in 2022, according to a new study by the Motley Fool Ascent.
During a time of high cost-of-living, retirees with fixed income are struggling financially and experiencing a lack of affordable housing options.
In fact, more than half of 14.4 million middle-income seniors who will need the level of care provided by traditional senior housing will not be able to afford it by 2029.
CFP and contributing expert at the Ascent Matt Frankel, who’s familiar with the study, is speaking with us about how retirees can save money using budgeting apps and retiring in a more affordable city.