Real Retirees: Insights on saving for a successful retirement

Updated : Aug 28, 2019 in Articles

Real Retirees: Insights on saving for a successful retirement


[ Music ] Ann V.: I started very late in life. I was married for over 22 years and suddenly found myself divorced. So at 46 years old, I was starting my life all over again. So I’ve learned everything on my own. Usually through the school of hard knocks. The advice I would give someone who’s nearing retirement is don’t have credit card debt. I would also recommend seeking the advice of an accountant who will help you to determine if you should pay off your mortgage or if you should keep it. Always continue to save even when you’re retired. You can’t know everything. So always be open to advice. You don’t necessarily have to take it, depending on your circumstances in life, but always be open to listen to it. [ Music ] Ron H.: When I started on the fire department, my captain told me to give me– save $50, put it away and you’ll be amazed what’s gonna happen 25, 30 years down the road. I didn’t understand the compounding and interest and all this. And I look back now and I say, wow. I would have received big savings at the end, and I didn’t do that. So I kind of made a mistake there. I never felt that I was going to work long enough for a 401(K) to benefit me in any way, which I look back now and that would be a mistake that I had made. We never think we’re gonna get old and when you’re young, you know you’re not gonna get old and you’re gonna have a lot of time but time goes quickly. So what you need to do is start early for retirement. Don’t think I’ll do it tomorrow. I’ll do it next year. Look at it as something you need to do today. [ Music ] Marianne H.: You hear people talk about living above their means. My mantra is live below your means. Live below your means in your 20s and 30s so that by the time you’re in your 40s and 50s that you can retire early and you can pursue those passions and those hobbies. I’m so glad that I made the sacrifices that I did when I was in my 20s and my 30s and my 40s, so that I was able to retire at 55 and now I have the time to pursue my passions and enjoy my cycling and other hobbies. [ Music ]

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