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How can a person retire comfortable in our current unstable American economy?

  1. MojoDawg profile image60
    MojoDawgposted 6 years ago

    How can a person retire comfortable in our current unstable American economy?

  2. bryteyedgemini profile image84
    bryteyedgeminiposted 6 years ago

    Live beneath you means rather than just barely within it, be frugal, make sure and pay off anything purchased on time prior to retirement so that bills are minimal meaning you can live on less and save save save

  3. Ramsa1 profile image61
    Ramsa1posted 6 years ago

    It depends on what you mean by comfortable. Here are a few ideas:
    1. Live below your means.
    2. Save as much as you can.
    3. Cut back on luxury items.
    4. Don't spend on things you can't afford just to impress others.
    5. If you have debt, pay it off as soon as possible.
    6. Educate yourself about investments.
    7. Don't just hand over your money to others to invest. No one can care about your money more than you.
    Good luck.

  4. LandmarkWealth profile image78
    LandmarkWealthposted 5 years ago

    It's generally a good idea to keep the withdrawal rate n your retirement assets to no more than 4% of your asset base if you're over 60 yrs old.  If you decent at managing money and you use that as a spending speed limit, you'll probbaly do ok.

  5. dennis.cherenkov profile image73
    dennis.cherenkovposted 5 years ago

    Stay out of debt, build a solid emergency fund, and invest globally.  Regardless of the headlines, many people are doing VERY well.  In every crisis there are opportunities, and the people who are out of debt and have money are usually in the best position to see the opportunities and act, unlike the broke people who panic.  Have you every noticed how certain people come out of a "crisis" way ahead?  How the rich get richer faster?  Planning and knowing the rules to the money game is key.