The economic downturn has been really tough on many people throughout the world. The youngest workers and baby boomers have been hit harder than most other people. Planning for retirement has always been difficult for many people. You will need to be even more disciplined now that the economy has faced so many problems. Here are some things you will need to take into consideration.
Keep Your Spending Under Control!
Most people roll their eyes when you tell them to spend more frugally; however, few people will ever admit to themselves how much they actually spend. A new study from the National Center for Policy Analysis has found that most older workers are spending a higher percentage of their money on disposable income than in previous years, even though their incomes haven’t increased.
Celebrity financial advisors such as Suzie Orman keep telling people they need to cut their spending and save more for retirement. This is essential advice when you are reaching your golden years. Stop spending as much money on Starbucks and start putting more into your 401K.
Be Prepared for a Forced Retirement
Many baby boomers have been forced to (Read more....)
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