“The day is finally approaching. You’ve been saving and investing most of your adult life for this moment, but now you’re not so sure you’re really ready to retire…”
“While retirement readiness has many non-financial components to it, here’s how you can know if you’re financially ready to retire:”
1) How much income will you need?
2) What will you be receiving from Social Security?
3) What other income will you be receiving?
Ask yourself five other questions and see Forbes advice on their article here:
“Are You Financially Ready to Retire?”
Retiring already can put a strain on your budget; don’t exacerbate it by being deep in debt on top of it!
Here are a few ways to get and stay debt-free:
Start and keep building up your savings — having at least an emergency savings stash is especially crucial.
Spend less than you bring in — live below your means.
Work on paying off your student loans early.
Don’t overpay when buying your home — you need to get an affordable mortgage.
Keep that credit card debt very low.
Read more on all five of these ideas on Money.CNN.com’s article: “
5 steps to retire debt-free.”
This entry was posted in
Personal Finance, Real Estate Advice & Tips and tagged credit card debt, debt free, loans, Money Monday, mortgage, personal finance, real estate, retire, retirement, retiring, savings on . June 12, 2017
Sometimes it’s difficult to plan financially for the future when you also need to worry about here and now.
However, if you don’t think ahead, you most likely will be in for a rude awakening come retirement age. Now is not too early to be thinking and planning for retirement; and to help you, here are three questions from Time.com to think about:
Will you be able to replace enough money to retire while maintaining your standard of living?
What are you investing in? There are general
investment recommendations here. What will retirement look like?
Read all of Time.com’s article on Yahoo here:
“Ready to Retire? Better Ask Yourself These 3 Questions First.”