Soon to be a Retiree? Worried about money?
I am 53, plan to retire in the next ten years and I’m concerned about my reduced income. What should I be doing now to help my financial situation in the future?
If you begin to reduce your spending now, it will not be such a shock when you retire. A reduced income sometimes forces retirees to increase credit card spending. It is this one action that gets many people into financial difficulties. Consider downsizing your life, so to speak. Reduced income does not have to mean reduced standard of living. Planning ahead and being budget conscious are two of the best actions you can take. Starting today!
Also, make sure that you put as money as possible into a RRSP.
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