If you are wondering how to pay off debt in retirement, you’re not alone. According to the latest statistics, people over 65 are struggling with mortgage, credit card and other debt like never before.
No one wants to work forever. But leaving a job that provides a steady paycheck can be scary. However, if you have money arriving every month from multiple sources, retirement can seem a little less nerve-wracking.
Do you suffer from financial shame?
I ask this question because financial shame is far more common than most of us would like to admit. Everyone talks about how financially successful baby boomers are, but, this is just part of the story. Like every generation, we are struggling after the Great Recession.
Did you know that several Social Security rules are about to change? If not, you’re not alone! There’s a great deal of confusion about who is affected and what will happen.
True, the upcoming deadline affects a small percentage of people. That said, many of us are concerned they we lose benefits if we don’t take action. Let’s clarify the situation.
My husband didn’t expect to be diagnosed with esophageal cancer at age 34. I didn’t expect to become a widow at age 35.
April 29, 2016 is a magic day for people who are 66 and their spouses. It’s the last day you can claim a retirement benefit that will give you big returns over a long lifetime.
Shopping is a necessary part of life and, by the time we turn 60, we are pretty good at it. We know what we like, what make us happy and, for the most part, we know where to go to get it!
Even if we care less about “things” after turning 60, we still get the impulse to go shopping occasionally. If this sounds familiar, you’ll love Groupon!
Maybe it’s for a new dress or pair of shoes in preparation for a stylish night out on the town. Or maybe it’s treating friends to a fancy dinner so you can all catch up and swap life stories. Or maybe it’s for a day all to yourself relaxing and getting pampered at a spa.
The problem is that you want to stay frugal, too, since you have bills to pay and necessities to budget for. And it can be hard to find a business that has a deal going on right now, or at least wait until a shop nearby holds a sale. This is where the organizing and searching power of the Internet comes in handy.
When it comes to money, us Baby Boomers are in an interesting position. On the one hand, we hear over and over again that we are the “wealthiest generation in U.S. history.” On the other hand, the great majority of us are simply not prepared for retirement.