It may sound like a daunting and emotionally draining task, but downsizing could be a savvy financial move, especially if you haven’t reached your retirement savings goals.
Roth IRAs were created a year later, in 1997, to give people a tax-advantaged way to save for retirement. But a funny thing happened along the way — some parents adapted the Roth IRA as a college savings tool.
Inflation is one of the key factors you will need to consider when planning for retirement. Not only will the cost of living rise while you’re accumulating assets for retirement, but it will continue to rise during your retirement, which could last 25 years or longer.
If your financial plan for 2017 didn’t work out the way you wanted it to, don’t beat yourself up. Instead, ask yourself the following questions…
It’s a Catch-22: You feel that you should focus on paying down debt, but you also want to save for retirement.
It’s a vicious cycle: Money is one of the greatest causes of stress, prolonged stress can lead to serious health issues, and health issues often result in yet more financial struggles.
After you’ve identified the actual value of your business, determined its target value and taken steps to protect its value, the time has come to build value.