If you , one of the most important things you must do is ensure your finances are in order. Retirement is going to be a big change. You’ll no longer have a regular income from your job and will instead be relying on your retirement savings.
This can be a tough adjustment for some people. To prepare, now is the time to start planning your retirement budget. Understanding what expenses you need to keep and what might not make sense anymore can help make your finances in retirement a little more comfortable.
As you’re making your budget, consider these seven things you should probably stop wasting your money on. “Retirement isn’t a financial free-for-all. It’s about smart spending, careful planning and making your money last,” said Stoy Hall, CFP®, founder and CEO of .
“So unless you’ve got a crystal ball or a money tree in your backyard, .” Earning passive income doesn't need to be difficult. A year before you retire is probably not the best time to buy a new car.
Unless yours suddenly breaks down and you need something to commute to work, it’s best to wait for a purchase like this. While you might be driving a lot now, things might change after retirement. If you’re only driving when you run errands, you might find that the car you have is sufficient.
“When you’re about to retire, the last thing you need is a shiny new debt hanging over your head,” said Hall. “Getting a brand-new loan starts your clock all over again. You’re about to leave your.