The Lunsford Agency 69 West Second Street, Chillicothe, OH 45601
740-779-0246

Be Smart With Your Money

The #1 fear of retirees is outliving their money.

Facts compiled by the census bureau:

1/3 of retirees have no money saved for their retirement

40% of those retiring have less than $5,000 saved. The next 10% have less than $25,000

Half of the population cannot handle a $400 emergency without using a credit card

So what is a person to do? The first priority would be to live within your means. Save at least 10% each month and take advantage of your 401K plan. The company matching is free money…take advantage of it!

Eliminate credit card balances. The interest rates on many cards is in the double digit range.

Take inventory each month of what you’re spending.Are you eating out too much? Not packing a lunch? Buying an expensive coffee each morning?  It might just shock you how much you could eliminate, and you could instead start putting the wasteful spending into a Roth Ira.

There is an old proverb I like… Every journey begins with a single step. When you invest or save today, you are buying a day in the future when you won’t have to go to work.

Call for more information and let me help you plan a worry free retirement.

 

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