On the Money: Middle Class Retirement

On this episode of "On the Money," Paul Ruedi, David Ruedi, CFP®, Ryan Repko, CFP®, and Dr. Fred Giertz discuss rising mortgage rates, wage increases vs. the cost of living, and why health care and long-term care costs can make retirement difficult for the middle class.

(1:46) Social Security COLA

(3:48) Rising mortgage rates

(9:18) Strong returns are making people complacent

(19:26) Cost of living vs. wage increases

(24:30) 401(k) catch-up must go into Roth for some people

(25:28) Caller comment: Healthcare coverage for younger spouses of people on Medicare

(33:17) Some people have to work while they wait for Medicare coverage

(42:49) Long-term care competes with other financial goals