5 Steps BEFORE You Retire

5 Steps BEFORE You Retire by Ken Jorgustin

Are you thinking about your future, your retirement? Are you wishing that you could retire sooner rather than later? Are you wondering how it will even be possible to retire?

Well here are five steps to consider before you retire – five things that will help get you there sooner…

1. Get Out Of Debt BEFORE you retire
2. Downsize your expenses BEFORE you retire
3. Understand the tax implications of where you retire
4. Save and/or invest as much as you can before you retire
5. Acquire unique skills for supplemental income ‘after’ you retire

Get Out Of Debt BEFORE You Retire

This is one of the biggest issues these days. Too many (most) people ‘live large’ while having burdened themselves with excessive debt relative to their income. This debt often shackles the ability to advance in any real way. It will be exceedingly difficult to transition into retirement if you are carrying debt. Do what you need to do, and get rid of it. Live BELOW your means…

Downsize BEFORE You Retire

Your income WILL be greatly reduced during retirement. That means you will need to be living a lifestyle that already matches a reduced income level for after retirement. That may require you downsize your way of life. Look around you and look at your own lifestyle. Can you eliminate things or reduce things or live smaller such that it will have a lesser impact on your budget?

Understand The Tax Implications Of WHERE You Retire

There are tremendous differences between one state and other states and one region or another with regards to taxes. Especially pay very close attention to property taxes because property taxes will never go down. They will always go higher. Throughout your retirement you will be required to pay those taxes. You might seriously consider moving…

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Ken Jorgustin

Ken Jorgustin’s survival blog focuses on a wide variety of preparedness topics varying from short to long term actions and solutions for wide-ranging scenarios of preparation… for daily life, disaster, or even SHTF collapse. Subjects include situational and risk awareness, the dangers, systemic risks, and avoidance of dependence upon the major ‘modern’ systems that we take for granted, topics of self-reliance and self-sufficiency, and practical solutions to live a way of life while surviving these uncertain times. Modern Survival is Preparedness For Life Preparedness is a process and will become a way of life – one in which you have more control over your own destiny. Being better prepared will help liberate you from “the system” which in many ways is designed to hold you down and keep you “dependent”. Modern Survival Blog has been committed since JAN-2010 to produce a wide variety of information to hopefully provide you with ideas for your own preparedness.