What did your parents tell you about the path to success in America? If you are like most of the 50 and 60-year-olds that I have spoken with, the answer is probably “Not much. I had to figure it out by myself” or “They told me to work hard, finish school, get a job with a good company and stick with it as long as possible.”
People hate cutting costs. Beyond the practical considerations of having to give up all the shiny new stuff that marketers tell us we need, there are psychological reasons that we hate cost cutting.
The last quarter of the year can become quite stressful, especially for those of us over 60. In some parts of the world, October is filled with more outdoor events with family and friends because the weather turns cooler while the sun is still generous.
Realizing that you haven’t saved enough for retirement is one of the worst experiences in the world. You worry about how you will support yourself in retirement. You start to fear getting sick in your old age. You may even start to suffer from feelings of guilt or regret as you look back at all of the bad financial decisions that you made in your life.
Money is a hot-button topic. Most people would rather admit to having an affair than that they have credit card debt! So, I set out to find an expert who could offer no-nonsense advice, just for women over 60. Kerry Hannon is just such an expert.
Like many – dare I say MOST successful entrepreneurs – I started my side business way before I left my corporate career behind. Already in my early 60s, I could see that my days of working for a large company were numbered. At the same time, I wasn’t in a hurry to give up my steady paycheck.
According to most experts, splitting your attention between two business ideas is a recipe for disaster. Focus, they insist, is the name of the game when it comes to starting a business.
One of the great things about starting a side business in your 50s or older is that you already have a pretty good idea of your skills, experiences and passions. If you haven’t taken the time to document these aspects of your life, don’t worry! I’ll give you some brainstorming tips in a second.
When I asked the women in our community to share their advice for younger women, a surprising number recommended that their younger sisters keep a separate bank account from their husbands.
It’s not difficult to see why reverse mortgages for seniors have become so popular of late.
For starters, most of us are approaching retirement with less money in the bank than we hoped for. This is partially due to the Great Recession eating into our savings, although, if we are honest with ourselves, we probably share part of the blame for not putting more away when we could.