The stock market has raced to record highs this year, but your portfolio may not show it. In some ways, that’s to be expected: A balanced portfolio won’t post the same returns as the Dow Jones industrial average or the Standard & Poor’s 500, nor should it. You would have to be 100% invested in stocks to mirror the market’s performance, and that kind of aggressive allocation may not be appropriate for your risk tolerance or time horizon.
Millennials have built a reputation for job hopping. LinkedIn recently ran an analysis of its members and found that those who graduated between 2006 and 2010 had, on average, close to three jobs within their first five years after college. There’s nothing wrong with switching jobs, especially for a higher salary or better benefits. But if you’re not careful, jumping from employer to employer could hurt your retirement savings in a few different ways.
An age difference in your relationship doesn’t just mean your favourite bands are from different decades. As you approach retirement together, that age gap becomes a factor in decisions about when you retire and when you take the Canadian Pension Plan, and in planning how much money you need to save and how it should be invested. Especially if the younger partner is a woman, an age difference can mean you need your money to last longer.