It is a nightmare situation that no one ever wants to end up in. Running out of money during retirement can be a very stressful situation to be in as it often seems like there is no way out. However, if you do start to feel the pinch during your later years, there are some emergency steps you can take to help you turn your retirement into a more comfortable period of your life. Here are some things you can do in the event that you do start to run out of money.
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Seniors face more financial roadblocks than other age groups, and more people find it nearly impossible to save in their younger years. What this means for seniors is a low monthly income to survive on each month, combined with rising healthcare costs. It’s more important than ever to make sound investments, but how can you do it in a way that’s best for you?
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Future Financial Regrets To Avoid

by Pam on April 18, 2017

You might be surprised how many people in their elderly life have regrets about their financial past. In fact, they often wish they could turn the clock back so they could have done things differently when it comes to their funds. That way, they could have enjoyed a happy retirement, and they could know their kids would be in sound financial health after they pass away. However, you don’t have to be one of the many people living in financial woe when they reach old age. In fact, here are some of the biggest financial regrets, so that you can avoid them to ensure you have a happy future when it comes to your finances!
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5 Steps To Take Before You Retire

by Pam on February 10, 2017

1.    Practice Your Retirement

This may seem silly. You are probably thinking: why would I need to practice for retirement? Well just like any major life change this will be an adjustment for you. One of the biggest complaints that retirees have is that they didn’t realize how hard it is to have so much free time. The transition from working to not working will be a shock to the system if you don’t ease yourself into it.
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Retirement can seem almost a lifetime away when you’re young and healthy, but it soon sneaks up on us. The topic of aging can be uncomfortable for many of us, but it’s important to be prepared – nobody else can ensure a safe retirement for us better than ourselves. It’s not just about researching the best retirement fund to pay into; it’s also important to be aware of other avenues, to ensure you have the safest and wealthiest retirement possible, and ensure you’re comfortable after all those years of hard work.

Plan ahead

Don’t just let retirement creep up on you – in general, we need to start planning for our retirement fund in our twenties. While it’s impossible to predict every major life event, it’s sensible to plan for the worst case scenario. Determine what you’ll want your retirement fund for, and why you’ll need it. Do you plan on traveling a lot once you finish in your employment, or perhaps buy a second holiday property? Do you need to prepare for health care expenses, or support family members? Or do you simply want to live comfortably day to day? This will give you some indication of how much you expect to spend in your retirement, and therefore how much to save on a month by month basis.
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