I'll Never Retire

  • Here's something that caught my attention. It's from an article in our Bankrate feed. "Why Millennials Don't Think They'll Retire"


    I can understand why people early in their working career don't think that they're likely to retire. Especially when they read about the troubles with the Social Security trust fund and other economic challenges that they'll face. When I was in my 20s and 30s retirement seemed very far away.


    But, whether they want to or not, millennials will need to eventually face the fact that they're getting older and may not be able to work. That's true for all of us. I can't tell you how often I get email from people who need income but aren't physically still able to work.


    That's why it's important to save for retirement. You might want to read an article I wrote on how to figure how much you'll need for retirement.


    Or, if you feel you want some professional help visit Wealthminder;. We've worked with them. They'll help you find a financial adviser that can work with you to assure a comfortable retirement.


    You may choose to never quit working. But, it's nice to know that you have that option if you change your mind or physically can't work anymore.


    One other thing on my mind. You can expect interest rates to rise. The Federal Reserve has held back for awhile (probably because they didn't want to affect the election), but have signaled that they're planning on raising rates. This article in U.S. News describes the situation well.


    That means that if you're carrying any type of debt you'll want to take action now. (yes, I know that you're busy holiday shopping, but you probably won't get the same chance in January) If you're interested in refinancing your auto loan; this tool will help you see if that will work for you.


    It might also be your last best chance to refinance your mortgage. We have a page that can help you decide if that's something that you want to pursue.


    Finally, now in the middle of holiday shopping season is a good time to be reminded NOT to run up charges that you can't pay in full next month. Paying interest on a credit card balance isn't anyone's idea of a Christmas gift that they'd like to get!


    Keep on Stretching those Dollars!


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