Not Ready to Retire?

According to a survey done in 2009, almost one third of working people over that age of fifty-five, have saved ten thousand or less for their retirement. Hopefully, you have saved more and even if you have, knowing when to retire is always a tricky question.

Sixty-five is no longer the default retirement age and no one can really know how much money they will need once they retire to live comfortably.  Maybe you are not ready anyway, if not, see if any of the following fit with you.  Have you done the math required or made that list of how to cover day to day living costs.  If you haven’t been working on that nest egg, you will need to play catch up.

For many, their retirement saving have taken a blow during this recession. Maybe you took on to much risk in your investments or maybe you could seek the help of a certified financial planner. If you find yourself with too much debt, you can begin by cutting down on unnecessary spending and maybe consider downsizing to a smaller home.