Spending: In check
If your children have left the nest and you no longer have to pay for any tuition fees, you might have more money left in your bank account. But before you go ahead and spend it all, take a few seconds to think about it. It’s not like you haven’t earned the right to use your money as you please, after years or hard work, but make sure you spend it with your retirement goals in mind.
If you are in your fifties and still working, this is the best earning period of your life. Start saving as much as possible to make sure you don’t run out of money in retirement, especially with the longer life expectancy. And while you’re at it, find out 10 Warning Signs Your Retirement Will Cost More Than Expected.
