Grant Cardone warns of biggest real estate correction in his lifetime within 12 months heres where he identifies tremendous opportunity' for savvy investors

Prolific real estate investor Grant Cardone is sounding the alarm on significant changes within his industry.

During a recent conversation on Fox Business with host Charles Payne, Cardone shared a grim forecast for the real estate market.

Commercial real estate has beaten the stock market for 25 years but only the super rich could buy in. Here's how even ordinary investors can become the landlord of Walmart, Whole Foods or Kroger

Car insurance premiums in America are through the roof and only getting worse. But 5 minutes could have you paying as little as $29/month

These 5 magic money moves will boost you up America's net worth ladder in 2024 and you can complete each step within minutes. Here's how

Were going to have the biggest real estate correction we've ever had here in the next 12 months, he said. It'll be monster, and it will hit Gen Zs in a way that they'll never touch that asset class again.

The implications of major real estate downturns are profound, as evidenced by the Great Recession in the late 2000s in which millions of Americans defaulted on their mortgages and lost their homes.

This time, however, Cardone believes the impact will be unprecedented and focused primarily on larger developments rather than single-family homes. And if Cardones predictions are true, a certain group of investors are likely to benefit from this correction.

For most people, the single-family home is still thought of as the most accessible and familiar real estate asset. Multi-unit properties, by contrast, have typically been beyond the reach of the average American.

However, Cardone believes this dynamic is set to change.

You have major institutions that are releasing assets back to regular, ordinary, everyday people, he said. Institutions are having to let those properties go because their debt is due.

According to Cardone, this presents a tremendous investment opportunity for regular Americans. He even thinks it could serve as a gateway to substantial opportunities for all age groups, particularly Gen Z.

This is true generational wealth redistribution, he argues.

Read more: Car insurance rates have spiked in the US to a stunning $2,150/year but you can be smarter than that. Here's how you can save yourself as much as $820 annually in minutes (it's 100% free)

Cardone is no stranger to making bold statements. After all, the man once called buying a home the worst investment people can make.

Instead, Cardone favors rental properties, seeing them as a more robust investment. In fact, despite anticipating a significant market correction, he remains confident about the future of this asset class.

I'll make a prediction right now real estate will be the number one [investment] category by the year 2026, for all age groups. I guarantee it, he told Payne, outlining several of its advantages.

Its easy to leverage, protects you against inflation, benefits from rent increases, and provides cash flow that people have to have today, said Cardone.

He makes a compelling argument: real estate is widely recognized as an effective hedge against inflation. As the price of raw materials and labor goes up, new properties are more expensive to build. This can drive up the price of existing real estate.

Well-chosen properties offer more than just potential for price appreciation. Investors also get to earn a steady stream of rental income. Plus, rental rates typically rise with inflation, further enhancing the investments value over time.

The best part? You dont need to be a real estate mogul like Cardone to own rental properties. These days, there are many real estate investment trusts (REITs) and crowdfunding platforms that enable everyday Americans to earn rental income without becoming a landlord.

So, while there may be some facts to face for single-family homeowners over the next year, there could be a new investment to seize just a few blocks away.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

See original here:

Grant Cardone warns of biggest real estate correction in his lifetime within 12 months heres where he identifies tremendous opportunity' for savvy...

GOBankingRates works with many financial advertisers to showcase their products and services to our audiences. These brands compensate us to advertise their products in ads across our site. This compensation may impact how and where products appear on this site. We are not a comparison-tool and these offers do not represent all available deposit, investment, loan or credit products.

The rest is here:

Grant Cardone: These Are the 3 Money Lessons You Need To Build Wealth - GOBankingRates

Ready to find this?

By Renee Goyeneche

A personal vision is more than just a singular goal; it's a comprehensive picture of how you want your life to look, driven by your core values, passions, and long-term aspirations. Once you define your vision, you can work with the end in mind, aligning your personal and professional paths for a more cohesive, fulfilling and successful life.

When your vision is clear, the work you do in one area of your life naturally supports and enhances the others, and you'll see the benefits in seven key areas.

When you prioritize your values and goals, it informs your approach to decision-making and guides your actions. For instance, if you view integrity as a core value, this principle means you will prioritize honesty in relationships and commitments with family and friends. This might involve being truthful even when it's difficult, standing by your commitments, and consistently showing respect and fairness in your interactions.Professionally, integrity might mean seeking workplaces and roles that uphold ethical standards, ensuring that your career choices are consistent with your personal beliefs, leading to greater job satisfaction and a sense of purpose.

A clear purpose motivates you to pursue your passions and goals. For example, if your vision emphasizes personal growth, you'll naturally look to expand your horizons. At a personal level, that may look like learning a new language or developing a new hobby. This same drive can lead you to excel in your career, taking on challenging projects or seeking additional training. You'll also be more likely to choose a job you're passionate about because you're intrinsically motivated to choose something that sparks your interest. The desire for growth also builds resilience because you cannot grow without adapting to change.

A well-defined personal vision clarifies decision-making in all parts of your life. For example, if you prioritize family, you might focus on spending quality time with loved ones, planning family vacations, or coaching your child's sports team. Professionally, this clarity might act as a filter for making career decisions, helping you evaluate job offers, projects, and opportunities based on how well they align with your family commitments.

A long-term perspective helps you set and pursue goals that contribute to your overall life satisfaction and growth. For instance, if you value continuous learning and self-improvement, you might pursue higher education or attend training or workshops. In your professional life, this same value helps you set and pursue SMART (specific, measurable, achievable, relevant, and time-bound) goals that align with your overall life plan. If you want to be a leader in your field, for example, you might set goals to study and implement techniques used by people you admire.

If your vision includes being a supportive partner and friend, you will prioritize clear communication, trust and working to understand a perspective that differs from your own. Professionally, these same priorities will improve your interactions with colleagues, mentors, and industry peers. You might see this translate to effective collaboration and teamwork as you build positive professional relationships and create a supportive work environment.

Understanding your priorities helps you lead by example in your personal life. For instance, if your vision includes providing community leadership, you might organize neighborhood cleanups, volunteer at shelters, or start a local garden project.

In a professional management role, this might involve setting specific, achievable goals for your team and encouraging open communication to address any challenges. Providing clear expectations and support creates a positive work environment where everyone feels valued and motivated to work towards common goals.

Integrating your personal goals with your daily activities ensures a balanced and fulfilling life. If your vision includes maintaining a healthy work-life balance, you might set aside specific times for family, hobbies, and relaxation, reducing stress and enhancing well-being.

Professionally, this might involve setting boundaries for work hours, prioritizing tasks effectively, and taking regular breaks to recharge. Encouraging a healthy work-life balance within your team can also lead to higher job satisfaction, improved morale, and a more positive work environment.

Creating a personal vision helps you focus on what truly matters and provides clear direction for your life. It clarifies your decisions, keeps you motivated, and ensures your actions align with your core values. This focus boosts your confidence, enhances your ability to navigate challenges, and allows you to recognize and seize opportunities that move you closer to your goals.

Renee Goyeneche: I am a writer and research editor focusing on information that benefits women, children, and families. Find me on Twitter.

More:
Find Your True North: Why A Personal Vision Is Critical To Success - Forbes

Oriental College Kohima held its first graduation day for the batch of 2021-24 at its campus on July 20.

Governor of Nagaland La Ganesan graced the occasion as the Chief Guest.

Governor La Ganesan, in his speech, expressed gratitude to be a part of Oriental Colleges 1st Graduation Day a momentous event that marks not only the end of a significant chapter in the lives of our graduates but also the beginning of a promising new journey.

Traversing the journey of the College since its establishment in 1996 under the auspices of the Christian Revival Church, Kohima village, the Governor noted that Oriental College has been a centre of academic excellence and cultural enrichment.

To the graduates, I extend my heartfelt congratulations. Your hard work, perseverance, and determination have brought you to this milestone. Today, as you receive your graduation certificates, you are being recognized for your academic achievements and the commitment you have shown to your education. This is a moment of great pride for you, your families, and everyone who has supported you on this journey, wished the Governor.

According to Ganesan, Oriental College stands out not only for its academic rigor but also for its emphasis on instilling discipline, moral, and ethical values.

The college promotes the diffusion of knowledge and seeks the personal advancement of its students, regardless of caste, creed, community, or social status. This inclusive vision of holistic education aims to mould you into responsible citizens who will contribute positively to society, stated Ganesan.

To the graduating students, the Governor reminded them that their education is a tool not just for personal success but for the betterment of society.

Your integrity, honesty, and empathy will define you in your personal and professional endeavors. In a world that often faces ethical dilemmas and challenges, it is essential to hold onto your values. Integrity and honesty are not just moral imperatives but the cornerstones of trust and respect in any relationship or organization. Hard work and perseverance are critical, but they should always be accompanied by a sense of empathy towards your fellow citizens and a spirit of patriotism towards your country, stated the Governor.

He also advised the students to strive to make positive contributions to your community and your nation, since their actions have the power to impact others. Your sense of duty towards your country will be reflected in your actions, whether big or small, said Ganesan.

Download Nagaland Tribune app on Google Play

As the students venture into their future careers and lives, the Governor urged them to carry the lessons learned at Oriental College. Continue to strive for excellence, uphold your moral and ethical principles, and work toward the common good. May you shine brightly in all your endeavors and make us all proud. Very big congratulations once again, wished the Governor.

Kevikhruny Kiso presented a speech on behalf of the Graduating students. Sharing gratitude for letting the students witness the first graduation day, Kiso said, This is a day of reflection. This is an end of one chapter and a beginning for another. The spirit of this institution has gifted us with the opportunity to experience so many things which will help throughout our lives. She also expressed her gratitude to the teachers and faculty for helping them and guiding them in their academic journey.

Best graduate Awardee Menuotuolie James Yhome, in his speech, shared his gratitude and appreciation to the faculty and staffs for their dedication in helping and shaping the students . He also expressed gratitude to his parents and family who supported and helped him through out his journey.

Neishekhonuo Thami, Tenyidie subject topper, Nagaland University was also felicitated during the program.

Dr. Khrieliezhnuo Dzvich Principal, OCK gave the welcome address. The program was blessed with an invocation by Vizotuony Suokhrie Asst. Pastor CRC, Kohima Village while a special performance was presented by Hopong and Senti, and Dzzienuo. The vote of thanks was pronounced by Chubanenla Imchen Dean, Students Welfare.

Read this article:
Education is a tool not just for personal success but for betterment of society: Governor La Ganesan addresses Oriental College Kohimas first...

As another NFL season draws near, a veteran running back has elected to hang up his cleats.

Longtime running back Kenyan Drake is retiring from the NFL, he announced in a Friday afternoon Instagram post.

"Hard to believe eight seasons have come and gone. Ive loved the journeythe wins, the moments big and small, the comradery, the energy, all of it," Drake wrote. "Ready to enjoy a little retirement and see where the next chapter takes me. Thanks to everyone that was along for the ride with me."

Drake, 30, split his eight-year career between the Miami Dolphins, the Arizona Cardinals, the Las Vegas Raiders, the Baltimore Ravens and the Green Bay Packers.

He rushed for 3,866 yards and 33 touchdowns, both of which ranked in the top 25 among active players. In 2023, he played just three games, failing to gain a yard for either the Ravens or Packers.

As a collegian, Drake won national championships with Alabama in 2012 and '15.

Read the original post:
Veteran Running Back Kenyan Drake Announces Retirement After Eight Seasons - Sports Illustrated

Tiger Woods was told to retire by Colin Montgomerie ahead of The Open, but Xander Schauffele was having none of it and hit back at the Scot's comments

Xander Schauffele has quashed Colin Montgomerie's idea that Tiger Woods should retire, despite his disappointing performance at The Open.

Woods, 48, was significantly behind the frontrunners at Royal Troon, where he finished two rounds at a dismal 14-over-par. However, Schauffele rejected Montgomerie's recent claim, made before Woods had even teed off, that now would be an appropriate time for him to step down from professional golf.

Montgomerie, age 61, raised eyebrows with his remarks in The Times when he said: "I hope people remember Tiger as Tiger was, the passion and the charismatic aura around him. There is none of that now. At Pinehurst, he did not seem to enjoy a single shot, and you think, 'What the hell is he doing? ' He's coming to Troon and he won't enjoy it there either."

READ MORE: Open Championship prize money as purse less than LIV Golf and PGA Tour events READ MORE: Former LIV Golf star chasing PGA Tour history after move backfired

The Brit's skepticism regarding Woods' current form didn't end there; he contended that Woods should have retired long before this point. Schauffele begs to differ and insisted he wants one of his idols to perform on the golf course for as long as possible.

"Whether it's his honest opinion or not, the game of golf needs him [Woods], needs him desperately," he said in Troon on Tuesday. "Selfishly, I want him to play as long as possible. It just helps all of the guys out here, just with the amount of eyeballs that someone like Tiger Woods brings to golf."

Woods, who has been through the wringer with injuries from a near-fatal car accident, didn't hold back when responding to Montgomerie's comments about his potential retirement. The American legend pointedly reminded everyone that unlike Montgomerie, he has major wins under his belt, which gives him the privilege of deciding when to call it a day.

Follow the Mirror US on Google News to stay up to date with all the latest news, sport and entertainment stories.

"Well, as a past champion, I'm exempt until I'm 60," Woods declared before The Open. "Colin's not. He's not a past champion, so he's not exempt. So he doesn't get the opportunity to make that decision. I do. So, when I get to his age, I get to still make that decision, where he doesn't."

Despite recent struggles, including plans to take a break from golf after a rough time in Scotland, Woods' competitive fire remains undiminished, much to the delight of fellow golfer Schauffele.

Montgomerie later clarified his earlier statements, claiming they were misunderstood, and expressed his best wishes for Woods in his quest for another Open victory.

Read the original here:
Xander Schauffele shuts down Tiger Woods retirement talk with 'desperate' plea to golf legend - The Mirror US

AleksandarNakic / iStock.com

The retirement age and the future of Social Security have been big topics this presidential election season. The topics have especially caught the attention of many working Americans amid talk about potential cuts to benefits and the future for the system itself and those who will be retiring in the coming decades.

Retirement Savings: 4 Expenses Retirees Regret Keeping in Their Budgets, According to Experts

Compare: How Long $1 Million in Retirement Will Last in Every State

The United States is far from the only country dealing with these situations. Countries like France have looked at options like raising the retirement age, a move which led to big backlashes from voters.

For some more perspective, heres a look at how the standard retirement age in the U.S. compares to several European countries.

Lets start with the rules in the U.S. According to the Social Security Administration, if you retire at 62, the earliest possible Social Security retirement age, your benefit is lower than if you wait. If you were born 1960 or later, full retirement benefits are payable at age 67.

If you go by statistics, that means about one decade of full retirement since the average life expectancy in the U.S. is 77.5 years, according to the National Center for Health Statistics. According to the Mercer CFS Institute Global Pension Index, which benchmarks retirement income systems around the world, the U.S. has a score of 63. For comparison, the Netherlands is the top one with an index of 85.

Find Out: What Does Social Security Cover for Long-Term Care?

I Retired in My 50s: Heres My Monthly Budget

Retirement Planning: Whether you're planning for retirement, dealing with a significant life event or simply looking to make smarter financial decisions, a financial advisor can offer the expertise and guidance you need. Here are some compelling reasons why you should consider a financial advisor -- even if you're not wealthy.

France raised the retirement age to 64, as long as the retiree worked for at least 43 years. When it comes to the Mercer Index, France is just behind the U.S. with a score of 62.

As for average life expectancy, its quite a bit higher for France than the U.S. The average life expectancy in France is over 82.

Consider: 8 Things Boomers Should Sell Right Before Retiring

The UK did better than the U.S. on the Mercer Index. It scored 73.

When it comes to retirement age, according to Age UK, State Pension age is gradually increasing for men and women, and will gradually rise to 67 for those born on or after April 1960. As for the average life expectancy, its about 81 in the UK.

Story continues

See: Cant Retire in the US? Why Many Americans Are Choosing This Country Instead

The retirement age in Norway is similar to the U.S. at 67. However, there are options for pension pay-outs starting around age 62.

When it comes to the Mercer Index, Norway has a score just over 74. In general, there may be more years to enjoy retirement. Norway has a high average life expectancy near 83.

Learn: 5 Countries With Easy Citizenship for Retirement

The standard retirement age in Spain is 66. Thanks to healthier lifestyles and diets, the average life expectancy in Spain is around 83.

The Spain pension system does leave some to be desired. Thats why its Mercer Index score is only about 61.

Read More: How Much House You Can Afford in Retirement in Different Countries

Along with Spain, the standard retirement age in Germany is 66. However, the plan is to bring it up to 67 by 2031.

As for the Mercer Index, its 66.8 for Germany. When it comes to the average life expectancy in Germany, its between 80 and 81 years.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: The Standard Retirement Age in the US vs. 5 European Countries

See original here:
The Standard Retirement Age in the US vs. 5 European Countries - Yahoo Finance

Whartons Olivia S. Mitchell states the stark truth about saving: Lets be honest, saving is no fun. People dont get utils (or utility) out of saving. They get utils out of spending. Therefore we must devise new ways to make saving more enjoyable.

Retirees can get those utils if their savings, including pensions or annuities, are sufficient to finance their lifestyle and health needs. Much depends, of course, on how wisely they saved and invested pre-retirement, as well as their spending patterns in retirement. Driving all that are several behavioral factors, which a recent Wharton conference explored.

About 30 experts delved into these and more topics at the 2024 Pension Research Council symposium, titled Retirement Saving, Investment, and Spending: New Lessons from Behavioral Research. Mitchell, a professor of business economics and public policy as well as executive director of the Council, joined Wharton finance professor Nikolai Roussanov to host the two-day event, which marked the Councils 70th anniversary.

The symposium explored key behavioral factors impacting retirement wealth creation, including conscientiousness and emotional stability, how long people expect to live, how much they expect to spend in retirement, and the decline of cognitive skills with advancing age. Other factors include gender differences placing women at a disadvantage in their wherewithal to save, and shortcomings in retirement plan design.

Knowledge of retirement saving opportunities, along with financial literacy and numeracy, are, of course, prerequisites for retirement preparedness, but they are not enough. Noncognitive skills soft personality traits like conscientiousness, stress resistance, grit, and locus of control (peoples beliefs about the extent to which they can control events in their lives) also impact retirement readiness, according to Kim Peijnenburg, a professor at the EDHEC Business School in Nice, France.

Conscientiousness reflects the tendency to be organized, practical, persistent, self-disciplined, and achievement-oriented. It is the most important of the Big Five personality traits affecting financial decisions, Peijnenburgnoted. The other four are openness to experience, extroversion, agreeableness, and neuroticism.

Peijnenburg and EDHEC colleague Gianpaolo Parise reported that those with high conscientiousness plan systematically for retirement, and they also have more financial wealth than those at the other end of the spectrum. Their study included 13,145 individuals in the Netherlands, between 2008 and 2017.

The top finding was that people in the lowest quintile of emotional stability had a 10% higher probability of being in financial distress, such as being irregular with mortgage payments or rent or utility bills. By contrast, those in the highest quintile of conscientiousness and emotional stability had only a 1% probability of being in financial distress.

Peoples perceptions of their own longevity also have implications for their retirement planning. According to Arizona State University finance professor Rawley Z. Heimer, many underestimate how long they will live when they are young, which leads them to consume and spend recklessly, save less, and make suboptimal decisions for retirement planning. But as they get older, they overestimate their lifespans, rein in spending, and go slow on drawing down their retirement assets. Somewhere between those two states, they realize they havent saved enough for retirement and start to invest more in stocks.

People who lean toward subjective beliefs tend to have incorrect forecasts about several economic variables, such as housing prices, stock market returns, and their own employment. Those who rely on actuarial probabilities an objective approach might save more for retirement, he noted.

Neighbors, peers, family members, coworkers, and financial advisors also shape how much people save for retirement. Michael Haliossos, chair of microeconomics and finance at Goethe University in Frankfurt, shared his research findings exploring how others help boost wealth accumulation.

One of his projects studied neighbors peer effects, using data from a Swedish refugee allocation program between 1987 and 1991. The authors tracked participants for the next 10-20 years to identify outcomes in private retirement accounts and stockholding. The top finding was that having more neighbors with college-level economics or business education promoted immigrants retirement saving. Another finding was that refugees with a high school certificate and who had neighbors with degrees in business and economics were more likely to be participating in private retirement accounts and hold stock over the next 10 to 15 years.

A second project studied the effects of greater local wealth inequality on peoples later wealth mobility. In such a setting, college-educated households took on more asset risks later in life, such as investing in stocks, housing, and self-employment. Thus, they achieved greater wealth, whereas others who were not similarly motivated were left behind. The implication of those findings is that policymakers need to find ways to empower less-educated households in their financial behavior, Haliossos said.

A different project compared advice on the share of risky assets in retirement saving portfolios given by professional financial advisors with advice provided by lay advisors, such as family and peers. He found that professional advisors tended to recommend a lower allocation to risky assets for retirement than lay advisors. Also, professional advisors were influenced by their own income, age, risk aversion, and risk exposure in their own portfolios, when they offered clients advice. The final study looked at the effects on financial behavior of stress caused by events like the COVID crisis, a financial crisis, or a war. This study showed that such cognitive loads preoccupy ones mind, draining peoples ability to concentrate and perform important tasks.

Lets be honest, saving is no fun. People dont get utils (or utility) out of saving. They get utils out of spending. Olivia S. Mitchell

Behavioral factors also influence opportunities women get to save for retirement, compared to those for men. Motherhood and caregiving burdens mean that women have fewer years than men in the paid workforce, lower income trajectories, and a higher incidence of part-time work, said Vickie Bajtelsmit, professor emerita of finance at Colorado State University, who has researched the gender gap in retirement saving.

Consequently, women are penalized both in their employer retirement plans and in Social Security. Segregation also reduces their opportunities to earn and save: The top occupations for women remain teaching, nursing, retailing, and social work, Bajtelsmit noted.

Although conventional wisdom holds that women are more conservative investors than men, Bajtelsmit said that this is an incomplete story. Instead, their lower retirement wealth is mainly due to gender differences in labor markets and household responsibilities. For this reason, solutions to bridge the gender wealth gap must also focus on the labor market and lifelong financial literacy education. Solutions could include continued pressure on the gender pay gap, providing women with broader retirement plan access, and prorated benefits for part-time work, she said.

Older Americans face yet another set of challenges, including mild to severe cognitive impairments that affect their abilities to make financial and health decisions. These impact Social Security claiming choices and end-of-life transfers of wealth. At the same time, many people lose important resources such as social networks and community interactions as they age. Aging is also associated with losing loved ones, including their spouses, friends, and people of the same age.

Such cognitive, contextual, and psychosocial variables are key determinants of decision-making ability, according to Patricia Boyle, professor of behavioral sciences and neuropsychology at the Rush Alzheimers Disease Center in Chicago, and Gary Mottola, research director for the FINRA Investor Education Foundation. They shared findings from the Rush Memory and Aging Project, which has tracked about 4,000 older adults from the Chicago area annually since 1987.

Difficulties in making financial choices and understanding the factors at play seem to be an indicator of adverse health outcomes to come, Boyle noted. Someone who has trouble with difficult choices is more likely to develop dementia, for example, or go on to develop more cognitive problems over time, she said.

One finding of the Rush project is that lower levels of cognition are related to lower levels of financial and health decision-making. Another finding was that low levels of financial and health literacy were related to low levels of decision-making. The rate of decline in those levels was related to scam susceptibility and psychological well-being.

In one experiment, the authors gauged how participants responded to a scam offer. The participants received emails, direct mail, and phone calls from a fraudulent marketing campaign conducted by a fictitious agency called the U.S. Retirement Protection Task Force. They were told that their retirement savings accounts had been hacked, and that the task force wanted the last four digits of their Social Security numbers.

Most of the roughly 650 participants (69%) did not engage with the campaign. Some were skeptical (15%); they spoke to the fraudster, asked questions, and sometimes berated him, Mottola said. Nevertheless, 16% of the participants fully engaged with the campaign, providing the information requested without skepticism, although not all revealed their Social Security numbers. None of those calls were recorded, nor did the fraudsters use high-pressure tactics.

The key takeaway here was that 16% number was too high, Mottola said. The full engagement group had the lowest levels of financial literacy and lowest levels of scam awareness. The skeptical engagement group had the highest cognition, which he noted was surprising.

Many people also underestimate how much money they need to retire comfortably, or the probability of unanticipated expenses, said Shane Timmons, a senior research officer at the Economic and Social Research Institute in Dublin. He documented an undersum bias (a term coined by University of Buffalo marketing professor Indranil Goswami) that led people to be less financially prepared for retirement.

Timmons shared highlights from work that he and University of Galway lecturer Fidhlim McGowan conducted on undersum bias and the various ways in which it plays out. He noted that undersum bias occurs when people do not fully comprehend concepts like compound interest, and as a result, underestimate how money can accumulate. They also underestimate the probability of unexpected financial shocks and, therefore, put aside less money than what they need for emergency expenses. Additionally, they underestimate the accumulated impact of several financial shocks, which implies that this bias is an impediment to precautionary saving.

Interventions can help, Timmons and Galway found. They used a nudge and boost communication tactic to encourage participants to open savings accounts. That led to a larger-than-expected increase in saving account uptake (over 25%); it was especially helpful for the lower-income sample. They also showed that simple infographics explaining the cumulative probability of financial shocks can also motivate a saving habit.

All said, pushing people to save more may not always be the best approach. Accordingly, Mitchell speculated that it could be unwise in some cases to incentivize the poor to save more. That is, some low-wage workers might do better to pay bills and feed their children, in view of the 90% replacement of pre-retirement income that Social Security will pay, she noted.

See the article here:
How Behavioral Factors Shape Retirement Wealth - Knowledge@Wharton

If youre retiring, already retired, or even thinking about retiring, its always a good idea to protect your portfolio with retirement stocks. One way to do that is by buying safe dividend stocks.

Look at artificial intelligence data center real estate investment trusts (REITs), like Digital Realty (NYSE:DLR), for example. With a yield of 3.16%, DLR has been swept upin the artificial intelligence demand boom, where data center demand is expected to rise at a 15% CAGR through 2030,according to Goldman Sachs.

Almost every industry is now looking for new AI functionality that can streamline processes and improve results. In this new digital landscape,data centersare uniquely positioned to both provide and benefit from AI applications,says Digital Realty.

With DLR, youre investing in a safe REIT thats seeing explosive demand. All while getting paid a yield of 3.16% just to hold it.

Here are three similar retirement stocks you may want to buy today.

Source: Shutterstock

The last time I mentionedIron Mountain(NYSE:IRM),I said, The REITwhich isaggressively expanding its data center capacityto meet the demand of the generative artificial intelligence (AI) boomis just as attractive as Digital Realty Trust.

That was on June 5 as IRM traded at about $81. Today, IRM is up to $98 and still worth buying. Helping, analysts at Stifel raised their price target to $103 from $86 a share, with a buy rating. Plus, earnings are still solid.

In its first quarter, the REIT reported funds from operations of $1.10, which beat by 18 cents. Revenue of $1.48 billion, up 12% year over year, beat by $30 million. Better, the REIT carries a yield of 2.66% at the moment. It also just paid a quarterly cash dividend of 65 cents, which was paid out on July 5 for the second quarter.

Source: Ken Wolter / Shutterstock.com

Another one of the hottest retirement stocks with a yield is Equinix (NASDAQ:EQIX), a REIT that operates248 data centers across 70 countries on six continents serving over 10,000 leading businesses. Yielding 2.14% at the moment, the REIT is still a buy, even at $795 a share.

Earlier this month, Goldman Sachs initiated a buy rating on EQIX with a price target of $879. The firm believes the REIT has the potential to continue delivering strong numbers thanks to favorable supply and demand dynamics in the data center market. Analysts at Mizuho also initiated coverage with an outperform rating, with data center fundamentals improving.

Even Stifel analysts just reiterated a buy rating on the REIT, with a price target of $920.

The firm also noted that The robust demand for Equinixs services is expected to contribute to an acceleration of growth in the second half of 2024. The companys pipeline is described as robust, and there is a strong belief in Equinixs ability to maintain high conversion rates and manage churn levels effectively, as noted by Investing.com.

Source: T. Schneider / Shutterstock

Theres also American Tower (NYSE:AMT),a telecommunications and data center real estate investment trust (REIT) that yields just over 3%. It also just paid out a recent $1.62 per share dividend on July 12, with more likely to follow shortly.

Helping, Raymond James recently upgraded AMT to a strong buy with a price target of $248. The firm also noted AMT is primed for the best growth among U.S. tower stocks over the next three years. All of which happened following AMTs earnings beats.

In its most recent quarter, AMT beat and raised its 2024 guidance for earnings and adjusted EBITDA. Its first-quarter adjusted funds from operations (AFFO) was $2.79, as compared to an estimate of $2.57. Total operating revenue of $2.83 billion was above estimates of $2.8 billion. And its total operating expenses of $1.06 billion fell from $1.99 billion year over year.

Moving forward, AMT expects to deliver AFFO of $10.30 to $10.53, as compared to expectations of $10.38. Thats also above its prior outlook for a range of $10.21 to $10.45.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

On the date of publication, Ian Cooperdid not have (either directly or indirectly) any positions in the securities mentioned.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

The rest is here:
3 Retirement Stocks to Buy Now: Q3 Edition - InvestorPlace

Angle down icon An icon in the shape of an angle pointing down. Emma Echols (not pictured) receives $1,056 a month in Social Security and has to supplement that income with her part-time bus driver job. Laura Olivas

Emma Echols, 68, lives off $1,056 a month in Social Security and a part-time bus driver job in Alabama. She said she may never retire, but she's not too worried.

Echols has worked since she was 12, working as a chef, a convenience store general manager, and a bus driver. Throughout her life, she's rarely been financially stable, though she's kept bills down by living frugally and giving to others when she's able.

Though it's unlikely she can step away from work anytime soon, she's stayed active in her community to help others in worse situations than her. Still, she feels people like herself should get more retirement benefits and respect.

"I've always worked for what I needed or wanted, with no public or government assistance, but people who have not worked have very nice housing," Echols said. "Our world is confused. They reward the ones who will do nothing, who do not pay their bills on time, and not those who are school teachers who gave the system 50 years of their lives. I know teachers who knew exactly how many times a month they could wash their clothes to maintain their electric bills."

Millions of Americans at or approaching the typical retirement age of 65 lack the savings to quit working. Dozens of older Americans have told Business Insider this year they can't retire, as some estimates say retirees need well above a million dollars to retire comfortably. This is particularly out of reach for the more than half of Americans over 65 making under $30,000 a year, according to the Census Bureau's Current Population Survey.

While Echols said she wouldn't know what to do with over $1 million, getting more than $1,000 a month from the government would go a long way.

Echols got her first job at 12 as a babysitter, and at 14, she served soda and popcorn at a drive-in theater. Almost six decades later, she hasn't stopped working since.

"I always wanted to earn my own money," Echols said. "I always wanted to work, and at the age of 14, someone started my Social Security records for me. I waited 45 years to get that paycheck."

She worked as a chef at a seafood restaurant for over a decade, putting her in a "very good income bracket." At 27, she enrolled in community college but didn't graduate.

She switched to another company for nine years making minimum wage $3.35 at the time then got a new position as a convenience store assistant manager paying over $11 an hour, though she was later laid off. She acknowledges she and others in her generation should have been more informed about saving and investing strategies.

Over two decades ago, she got a job as a bus driver making about $9 an hour, though this increased over the years to about $26 an hour. She also gets health benefits and is building a pension.

"Before my rate went up, I didn't even make enough money to be able to pay $500 to $600 a month in rent," Echols said. "I have good income at my part time position where I have good benefits, but I understand the struggle for all senior citizens. For federal government housing, they do not want you to have more than $1,500 a month in income to qualify for one of their houses or apartments."

Her monthly expenses are $500 for rent with an extra water and garbage bill, $95 for phone and internet, almost $500 for her car payment, $89 a month on car and renters insurance, and about $300 for transportation expenses. She rarely eats out, and she tries to avoid spending on meat to cut back on costs. She's saving up for new tires and car maintenance fees that can cost $400.

"I live frugally, and I purchase only what I need," she said. "I've always been a clearance rack shopper, even some thrifting."

She rarely spends on entertainment, occasionally seeing a $5 movie near her home. She tries to stay healthy to avoid added medical costs, and she's kept her furniture and clothes purchases minimal.

She's gearing up to move from her duplex in the suburbs to an efficiency apartment in her city to reduce her transportation and car insurance expenses, as she can walk to work.

Her Social Security is $1,056 a month, a 25% reduction from her potential full benefit because she accepted payments early. She said it helps her cover rent and some other expenses, though she said she must work to supplement other costs and plan for her future. She has very little debt.

"People my age, we worked during a time when incomes were low, and I know people whose Social Security is $1,400, $1,500 a month, and it's not enough for them to live," Echols said. "I don't see myself being able to retire, but I'm grateful and healthy."

She said two of her sisters are in nursing homes, while her other two sisters have health issues. She gives gifts to family members when she can and tries to help them financially if she has money left over.

Echols also said some of her friends are dealing with similar situations, as many live on a fixed income and are struggling to pay all their bills.

She said religion has empowered her to continue giving what she has to help others in even worse situations, as she believes she will be repaid for her efforts and will never be homeless. If she had more money, she said she would use it to start a program to assist other women in difficult financial situations.

"I've never been a worrier, because in spite of what our world looks like, what's going on in the world, I truly believe that God has the final say," Echols said.

Are you worried about retirement? Reach out to this reporter at nsheidlower@businessinsider.com.

More:
Boomer lives on $1,056 a month in Social Security, works as bus driver - Business Insider