I have been meeting recently with a number of new client under the age of 35. This makes me so happy. These clients are looking at their life choices as the start off, or have been at a nice job for a few years, and do not want to waste the time they have to secure their retirement. So why are my clients that are in their last 50’s, and mid 60’s, not living by the same ideas? Let me share a few of the things that my older clients need to take a hard look at:

Not having enough money saved – I thought I had beaten this to death.
There’s an old saying: “If you make a lot, save a lot. If you make a little, save a little.” Whether you put your money in a savings account or a money market account account that earns higher rate, it’s important to save.
Underfunding your retirement savings
Not saving enough for retirement is the most common financial regret, especially among older Americans. Many unprepared retirees stress about their finances, run out of money or even depend on their children and loved ones for financial support.
Living on credit
Credit card debt is something you can’t afford at any age. If you fall behind in your payments because of an unexpected emergency or job loss, you can end up with a bad credit score. Poor credit can cost you in the future: you could end up paying a higher loan rate the next time you need to buy a car or home.
Come on – act your age and stop doing these things. You will have choice in your retirement and be much happier you made these changes.

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