Retiring With A Massive Debt
On nearing retirement, we should have enough savings to live off retirement.
Unfortunately for many of us, this is not so; some are burdened with debt.
Most financial advisers say that in entering retirement, we should do so with as little debt as possible.
It must be remembered that in retirement, your income will typically be less than what you would earn working in your regular job.
This lack could be offset by having a side income, an extra income earner; it would be good to find a side hustle before you retire.
In retirement, your income may decrease somewhat because you may not have to spend commuting to work and all the little extras you need to pay.
But as we get older, in most cases, our health also deteriorates, and our health care costs may increase, and quite many of us have no other health insurance but Medicare, which does not cover everything we need, e.g., eye and dental care.
If you are one of the near-to or retired people overwhelmed by massive debt, take the necessary steps to make retirement financially secure.
Steps To Take In A Financial Crisis
Some steps can be taken to help you weather this financial storm.
Most people think filing for bankruptcy is a way out, but taking this step can negatively impact your credit history and finances.
Please do not make any decision because you feel pressured; it is never a good idea to borrow, mainly from institutions like payday lenders, which are short-term money lenders. Their interest rates are incredibly high.
No matter how desperate your position may seem, you will always have a little time on your side to thoroughly review and talk to a financial professional.
Seek Credit Counseling many credit counseling companies will help you out of your financial dilemma.
Along with meeting with a counselor or talking to creditors about payout options, near-retirees can look into starting their businesses.
Earn Additional Income
As a retiree in too much debt myself, I can relate to your position, and if you are one of those who are or will be able to retire in comfort, you can look into this, too, as you will never know just what unplanned expense may surprise you.
I am a member of the Wealthy Affiliate platform, and this platform teaches you the updated techniques of online marketing.
And while online marketing is not a prosperous overnight business, it can be a very successful income earner for both an active income and a passive earner.
Wealthy Affiliate is legit, has an A+ rating with the BBB, and has been around for more than fourteen years.
The membership, which numbers more than 1.4 million from over the world 193 countries,
You can become a member of Wealthy Affiliate for free, which does not expire.
With the free starter membership, you can access 10 lessons, phase 1 of the Online Entrepreneur Course.
These lessons are in-depth and taught step-by-step; you go at your own pace.
At the end of this phase, your business will be up and running, ready for business.
I have placed a video of one of the lessons from phase one of the Online Entrepreneur course, and please have a look.
Wealthy Affiliate is a platform built for every online marketer, and it does not matter whether you are new to online marketing or a very experienced online marketer.
And as I said previously, the free membership does not have an expiration date.
And as a free member, you will not be asked for any financial information, and you will be asked only for your name and email address.
But I recommend that you upgrade to the premium membership; with a premium membership, more information and tools are available to you.
This is a list of the information that is provided in both memberships.
And because of all that is provided in the prim um membership, the success rate is much higher.
And the price for the premium membership is very reasonable for all the information and tools provided.
To be successful in online marketing, you need to attract an audience to your website.
At Wealthy Affiliate, you are taught how to draw people to your site; you are also given access to unlimited keyword searches from one of the best keyword search word tools (Jaaxy keyword search tools.)
From experience, I know the thought of writing a post that can be seen on the world wide web can be intimidating.
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There is no excuse. I know I had a lot, my age( I am a retiree), no experience, no technical knowledge, the training is so good that you will never be able to overcome these inadequacies.
You have nothing to lose for trying to start it is for free, and you can remain a free member as long as you like. I suggest you do all ten lessons before deciding whether you will remain a member.
And should you decide Affiliate (online) marketing is not for you, you can quit; you would have lost nothing.
I am telling everyone, whether you are a soon-to-be retiree, a stay-at-home mom or dad, a person who is disabled or needs to make some extra cash, give Wealthy Affiliate a try,
I am not telling you it will be an instant success because, like any other business, it takes time. Pele reported, ” Success is no accident; it is hard work, perseverance, learning, studying, sacrifice.
Wealthy Affiliate boasts a community of constructive members, is not selfish in sharing their knowledge, and is willing to assist you with any problem.
And because our members consist of people from all time zones, someone is always available to assist you.
The tech. Support is available 24/7 and can be reached from your dashboard, and I must say they are very competent and take your complaint promptly.
Throughout this post, some links will take you directly to a sign-up link for a free membership, and if you sign up by clicking on any of the links, I will be your coach.
So there is no need to think you will be alone; the community and I will be there for you.
Thank you for reading this post; please remember to share, and you can leave your comments and questions in the space provided at the end of this post, and I will reply ASAP.