60s & Beyond Best Practice: Spending & Debt

Adapting to your retirement income and making memories along the way could lead to unwanted and unplanned debt during your retirement years. Your budget may not go as far as it used to or your expenses may add up more quickly. Debt is a serious issue that affects people in all age groups and happens when there is a gap between what is coming in for income vs. what is going out for expenses. It’s important to develop a budget, eliminate debt as soon as possible and to bridge the gap between income and expenses. You will want to keep in mind the following three questions:

How do you want to spend your time? What do you want to accomplish? How will your finances be affected?

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