Are you thinking about retirement?
The luxurious life of retirement has been sold to us over the last century as something we deserve. It’s even become accepted as norma, but it’s not necessarily normal Biblically or historically! Some people can retire and some should, but most Christians should not consider traditional retirement. We should view retirement as freedom from day-to-day responsibilities in order to serve others without having to get paid for it. Sadly, a growing number of people aren’t financially prepared to retire. According to Go Banking Rates, there are 6 signs to postpone retirement.
1. Your spending exceeds your income.
2. Your total debt exceeds 36% of your pre-tax income.
3. You don’t have at least a full year’s worth of expenses saved for emergencies. A liquid savings account like a money market fund, short-term CD, or high-yield savings is essential.
4. You haven’t reviewed your investment portfolio recently.
5. You lack adequate insurance to cover possible medical costs.
6. You don’t have a social life outside of work.
Not saving adequately for retirement is the number one regret of older Americans. The solution is to prepare early! Exercising self-discipline, you can avoid debt and meet long-range goals. Ignore what the world says you need! Give generously and serve others so your latter years are more meaningful and significant than your early ones.
If lingering credit card debt is hanging over your head, I recommend Christian Credit Counselors. They’ll create a customized debt management plan. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.