I’m smoking my quarterly goals this year so far. Part of my success has been that my goals were realistic and attainable, the other part has been that this year has been good to me so far. A few things that have worked to my advantage:
I used to think that before I could save for retirement, I had to pay off all my debt. Though paying down debt definitely frees up money which helps you save more, it’s not a black and white area where you can only do one or the other. Instead, retirement savings should be a priority with paying off debt close behind.
I’m the first to admit that I’ve gotten off to a rocky and late start with retirement planning. The only thing in my corner, so to speak, is a pension plan that I have automatically contributed to for the past 13 years. However, the more I think about working for another 24 years, the more I think, can I retire before 65?
For months I have been doing a complete audit of my bills to see where I can save money. I started by making a list of EVERY SINGLE recurring bill that I have and then started slowly going down the list. With each item I asked myself “Is there any way I can save money with this bill?”.