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Tips for Living Well in Retirement

Living well during retirement doesn’t happen with luck. It requires sound planning and financial organization.
Whether you are 20 years of age or 75, creating and sticking to a budget is absolutely necessary to a healthy financial life.
  • Decide what are essential and non-essential items. Everyone needs food, but eating out at a restaurant every evening is non-essential and the money leaving your pockets will add up fast.
  • After creating your budget, track your spending for the month. Then note the areas where spending needs to be reduced.
  • If you have debt, make cuts to your budget so you can start paying down those borrowed balances quickly!
Look where you can to save money.
  • Reevaluate your bills. Try price shopping cable, phone, and internet providers.
  • Re-examine your home, auto, and health insurance rates. Are you getting the best deal? What does your policy cover?
  • Is long-term care life insurance right for you? This product combines the features of life insurance and long-term care into one plan. This plan also protects you from paying premiums for a long-term care policy that may never be used, and it can work as an estate planning tool.
As your finances evolve, it’s critical to reassess your investments and portfolios.
  • Update your financial plan with your trusted advisor. If you don’t have a financial advisor, consider meeting with a FORUM Private Client Group professional. Call 317.558.6322 or email*
*Investment advisory services provided by FORUM Private Client Group are not NCUA insured, not guaranteed, and are subject to loss of principal.

Posted: 5/27/2015 with 0 comments

Categories: Budgeting, Retirement, Saving

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