Real Life Retirement™ Services
Delaying retirement to fix financial missteps
- Don't discount part-time work—part-time salaries add up and some offer 401(k)s.
- If you think you have a lot of time left before or even in retirement, keep investing in stocks.
- Be careful of overusing debt to finance business or investment strategies.
- Phased out of profession; has had part-time jobs for past seven years; one offered 401(k).
- Working to become debt-free; by end of year will have only mortgage on the house.
Changes in technology forced a change in profession; a leap into new work has had its financial ups and downs.
"I owned a photo studio. As the shift from film to digital happened, rather than recapitalize my business, I phased it out and started taking part-time jobs. My wife works full-time; she has an excellent career and is the major earner in our family."
"Making mistakes, and digging out of debt.
"I tried managing real estate. I got into it in a big way, and I lost big. At age 55 I was using debt as a financial stepping-stone to success. I've spent the past few years trying to dig us out of that hole. At one point, I had five part-time jobs. Now I have two: delivering pizzas and newspapers. At first I was embarrassed to tell people, but I am plugging away.
I am still in the stock market. The thinking for people my age is to convert stocks into safer bonds, but I am risking lost opportunity if I don't continue to invest. My mother is still sharp at 96! I could live another 35 years."
Take the Next Step.
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Call 877-673-7970 for your complimentary retirement consultation.
- Use our retirement calculator to see where you stand today.
We thank Michael for sharing what worked for him. His words have been edited. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. Examples provided are for illustrative purposes only and not intended to be predictive of future results.
The types of financial transactions mentioned may not be suitable for everyone. Each investor needs to review a transaction for his or her own particular situation. Data contained here is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed.
All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Examples provided,
including statistical simulations, are provided for illustrative purposes only and are not intended to imply future results you should expect to see. Past performance is no guarantee of future results.