Consistent contributions to retirement accounts: Regular contributions to retirement accounts like 401(k)s, IRAs.
Diverse investment portfolio: Boomers with a well-diversified investment portfolio that includes stocks, bonds, real estate.
Minimal debt: Having minimal debt, especially high-interest debt like credit card debt or loans, reduces financial strain in retirement.
Emergency fund: Maintaining an emergency fund for unexpected expenses ensures that retirees don't need to dip into retirement.
Healthcare coverage: Adequate healthcare coverage, including Medicare and supplemental insurance, can help Boomers manage healthcare.
Budgeting and financial planning: Boomers who actively budget, track expenses, and engage in financial planning.
Delayed Social Security benefits: Delaying Social Security benefits until full retirement age or beyond can increase monthly benefits.
Lifestyle adjustments: Making lifestyle adjustments such as downsizing homes, cutting unnecessary expenses.