We live more

In 1935, an average 65-year-old senior is expected to live 12 more years. Nowadays, the Social Security Administration said that the average person 65 years old might expect to live around two more decades. Well, as you might have guessed, living this long might require more money.

It would help if you considered talking to a trusted adviser. For example, a fee-only Certified Financial Planner, maybe even someone who has been recommended by a friend or even a family member, might help you plan for your golden years and make the most out of your current resources.

Seniors have a hard time dealing with the most recent tough times

The Great Recession which ended a decade ago famously robbed workers of earning any power. Even more than that, it ruined the lives of many men and women in their 50s and early 60s, particularly. Home values and investment savings didn’t survive either, as they rapidly plummeted. Some folks out there are still recovering from them.

And for those who were lucky enough to pop their heads above ground, there are other imminent challenges that are hitting various aspects of their lives, from health, financial headwinds, and the coronavirus pandemic. Our take on this is that you don’t have to wait, you can take action now.

Make sure you don’t let pride prevent you from getting the needed help. Also, don’t spend all of your retirement savings or home equity trying to get rid of that unmanageable debt.

Dorothy