Here at CCFCU we understand how scary and confusing retirement can be, so we found someone to help out! Leslie, from The Seasoned Homemaker, tells us all about how her husband and she were able to prepare themselves for retirement when they were just a couple of years out. Here are a couple of her key points:
Consider downsizing. If you purchased a home some twenty odd years ago for your family and now it is too big for you and your spouse, consider purchasing a smaller home. Whether it’s a smaller property or an RV to travel, selling your larger home for a smaller one can significantly cut down on your expenses for the next ten to twenty years to come.
Live simply. There is no longer a need for a dining room table that seats a circus or excessive decor to cover your whole home. Sell some of your extravagant home items and invest in smarter storage pieces or simpler styles. You could end up pocketing money from your sales.
Be realistic. Along with living simpler, buy simpler as well. Consider every purchase you make and whether it is worth it to have the item. Is it going to collect dust in your home or will you actually put it to good use? There is no need for your home to be filled with pointless things you won’t be using. This will just make it harder down the line to live in your home.
Supplementing your income. When you retire you will no longer be making the same kind of money you were while working. Unfortunately Social Security is not enough to live off of especially if you are used to a certain lifestyle. While retirement definitely calls for some lifestyle changes, there are still ways to bring in the money you need.
To hear more about how Leslie and her husband got a head start on retirement, check out her blog post here http://www.seasonedhomemaker.com/warning-retirement-ahead-now-what/. This is just another way CCFCU is present for you!