It's "never too late" to save for the future
The economic downturn left many reeling, particularly older adults who were counting on their investments to provide a cushion during retirement. Though your nest egg may have shrank in the past few years, you shouldn't feel as though all hope is lost.
"It's never too late to plan and save for the future," financial expert JB Orecchia told Reuters. "The first part of this process is gaining an understanding of where you are financially and where you need to be to retire."
He added that it's wise to start cutting out unnecessary expenses wherever possible and trying to bring down debt levels. Overall, he explained that paying down debt is an important step to reaching the retirement of your dreams. Retirees who start taking an aggressive approach to credit card debt and other costs will see the benefits later.
At Del Webb retirement communities such as Sun City Peachtree in Griffin, Georgia, there are weekly investment club meetings that are open to all residents. This can be a valuable resource for retirees who are looking for advice on their portfolios or who enjoy the excitement of day trading.
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