ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Financial Fitness For Those Close To Retirement

Updated on September 10, 2015
Image Provided By
Image Provided By | Source

Your retirement years are looming around the corner and you’re terrified of speaking to your financial adviser. You just know you haven’t saved enough and you’re afraid you and your family will be destitute. Is there any remedy this late in the game?

Pay Your Debt Now

The last thing you want heading into retirement is debt looming over your shoulder with the added burden of a smaller income. While you’re still able to work, try to pay off as much debt as possible. Old age brings its own struggles and problems with the added medication and free-time. You will want some disposable income to do the things you’ve always wanted to, now get stuck inside your house because you can’t afford anything.

Living With Your Children

If the thought of this leaves you weak at the knees and tearful, it’s important that you either extend your working career or you find a place you can safely retire in. For those who simply can’t afford it and have to live with their children, the solution is to keep the relationship as peaceful as possible. Many children adore having their parents with them, but the added burden of caring for another mouth could put them under severe financial pressure. This is especially true if you require medical assistance.

Create An Additional Flow Of Income

Investing in a small business or a hobby that earns a bit of extra income will help take care of some of the expenses, or will even help you pay for that long-awaited vacation. This will also keep you busy during retirement, especially if you’re used to being busy.

Do Not Incur Any Additional Debt

This is especially true if you’re in the last ten years before retirement. Incurring debt during this phase will almost guarantee you carrying debt into your retirement which is a situation you will want to avoid at all costs.

Ensure Your Insurances Are In Place

This is a great time to pay a visit to your financial adviser. There are many financial products you will need in this phase of your life, for instance, illness cover, funeral cover and health insurance. This is especially true if there is a history of illnesses like heart disease and diabetes. Life cover at this stage is necessary if you still have debt or individuals relying on you for financial support. If you don’t, it may be a good idea to drop your cover to cover the expenditure in your estate, unless you want to leave a legacy to your children.

Invest In Your Health

This is a great time to ramp up your activity, as opposed to toning it down. Investing in a few free-weights and perhaps a treadmill will ensure that you remain supple and it gives your joints and muscles a greater chance of handling the aging process well. If you’ve neglected your health, ramping up on healthy whole foods, vitamins and minerals may reduce your reliance on medication in the long term. This is also a great time to steer clear of excess sugar and refined products in your diet if you haven’t made these changes yet. The financial gain from keeping yourself fit and healthy is incalculable.


    0 of 8192 characters used
    Post Comment

    • AudreyHowitt profile image

      Audrey Howitt 

      3 years ago from California

      These all seem to be great ideas--paying off debt is where we are right now!


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)