Earlier this year AARP published a survey, entitled “California Dreaming…or Struggling: Gen X and Boomer Financial Security,” which reveals that for the most part Californians are not ready for retirement and it is largely due to housing related expenses. In an effort to combat these statistics, AARP California is sharing tips and tools, bi-weekly on social media that can help you start living your California dream. Here is a summary of what was shared in August!
CUT COSTS NOW
Many Californians are feeling financially squeezed. According to survey results, one in four respondents feel they are either just getting by or finding it difficult to get by financially. Do you need help getting your finances under control?
- Learn how to save $10,000 a year HERE
- Read more about Baby Boomers’ saving challenges HERE
- Reconsider your fixed expenses and learn how you can save HERE
REDUCE HOUSING EXPENSES
Housing costs have never been more expensive in California. Growing expenses are putting pressure on young families and older working people who want to retire but fear whether they can afford to keep living in the state. The “CA Dreaming or Struggling” survey revealed 61% of respondents have considered leaving the state of California and living somewhere else due to the high cost of living. Are you in the same boat?
- Read what others are saying about rising housing costs HERE
- Learn why Gen Xers are so concerned about qualifying for mortgages HERE
- Get answers about co-housing and how it may be a solution for you HERE
SAVE FOR THE FUTURE
According to the “CA Dreaming or Struggling” survey, many respondents don’t have money to save for retirement after paying for housing related costs and other finances. As a result over half of survey respondents are worried that they will not have enough money to retire comfortably. Is the thought of your financial future stressing you out?
- Know what retirement money mistakes NOT to make HERE
- Find out what your retirement IQ is HERE
- See how fixed annuity might fit into your retirement plan HERE
- Educate yourself on the differences between 401(k)s and IRAs HERE
Learn more about the #CADreamingorStruggling survey findings by visiting, aarp.org/cadreamingorstruggling. Also, be on the lookout for our September tips, tools and quizzes to help you achieve your California dream!