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What are some strategies for overcoming financial ruin after 65?

  1. Billie Pagliolo profile image59
    Billie Paglioloposted 6 years ago

    What are some strategies for overcoming financial ruin after 65?

    When you have .42 cents in the bank at the end of the month, $12,000 in retirement, do you need to give up all hope of becoming well-off?  Is it possible to become wealthy at that point?

  2. createmyeconomy profile image72
    createmyeconomyposted 6 years ago

    Do not give up on anything. There are so many ways to make money, you cannot possibly do them all. I had a friend who became a CPA at 75 years old - right after she graduated college at that age. She was determined to do what she wanted.

    I have been broke several times, been through two crappy divorces. Just keep on keepin on. 65 is still young. Do not ever lose hope!

  3. William Gerace profile image69
    William Geraceposted 6 years ago

    I agree never give up on your dreams. You are here now I'm sure being active on Hubpages. I myself had some doubts but I already seen some positive results though not much but I'm still amazed I've seen anything. I'm going to follow you Billie. Check out my Hubs I have several good ones on finding some great work at home gigs all great ways to make money. You are going to do great. Keep trucking.

  4. okaygrace profile image60
    okaygraceposted 6 years ago

    Perhaps you should re-evaluate your monthly budget. I would venture to say that 90% of us spend hundreds if not thousands of dollars a month on things we don't really need.

    Take an inventory of all your expenses and figure out what is a necessity and what is a luxury and figure out what you really want in life.

    Often the easiest place to cut from your budget is your food costs. Anything more than $5 a day per person in your family is way overdoing it.

    I have a lot of blogs written and in the works on this very subject so check it out if you are interested.

    Best of luck!

    1. createmyeconomy profile image72
      createmyeconomyposted 5 years agoin reply to this

      Budgeting is overrated for most people. What you focus on expands. Therefore, when people focus totally on expenses, they will expand. I have proven from experience that the best way to wealth and  financial freedom is to focus on your income.