Preparing for Retirement
There are a number of considerations when someone is looking at retirement. My retirement is going to be many years down the road, but I have seen my parents adjust to newly retired lives over the last few years.
Gail looked at two aspects of retirement this week: Time and Money.
Your Retirement Budget
All That Free Time
Gail gave a reminder that adjusting to a big change like retirement will take time. As you adjust, she recommends not making huge life changes as your perspective may change in that first year off of work.
Changes in Relationships
Moral of this part of the week: People change. And with those changes come changes in financial situations and agreements.
Steps to Take
This part of the week hits home for me as I was in a financially harmful relationship years ago. For me, I felt held hostage in the relationship because my partner had racked up tens of thousands of dollars of debt in my name. I was fearful of the repercussions of walking away with all of that debt being my responsibility.
If anyone is in a similar situation, or is just weighed down by debt in general, I encourage you to talk to a credit counsellor. There are a number of free resources out there and people that can walk you through your options. It’s just a conversation and you don’t have to take any of the steps, but for me the information empowered me. While it was a tough go for a few years, I was able to experience freedom from not only the debt but also the relationship.
If you’re looking into places for help, these are two websites to start with. The first is where I went to ask question those years ago and the second has been hosting the Money Master Class Resources.
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