You need to pay off your debt before retirement! Once retirement arrives, most of us will be living off social security and our retirement savings. The more debt you have, the more savings you will have to withdraw.
Capital Budget Strategies, LLC, Austin’s favorite Money Coach, will help you organize your finances in just a few hours. For only $149, we sit down with you and your finance records to build a personal budget, an emergency fund and set up a Snowball Debt Elimination Fund. We can meet during the week, in the evening or on weekends in your office, your home or any quiet place near Austin.
Imagine entering retirement debt free with no mortgage, no car payment, and no credit card debt or school loans. Without debt, you should be able to maintain your hip, cool Austin lifestyle at about 70% of your final income. Not bad, right?
However, if you retire still paying a $450 car loan, a $350 credit card payment and a $950 mortgage payments every month, you would need to withdraw and extra $1,750 a month from your retirement. Yikes.
That extra $1,750 a month is an extra $21,000 out of your retirement each year (not considering taxes). Not to mention all the interest and dividends you will not be earning. Yikes, again!
Therefore, Capital Budget Strategies, LLC, Austin’s best Money Coach, suggests (begs, actually) that you take the next couple of years and pay down all your debt. Please.
Time to be an adult regarding finances everyone and Austin is a great place to be one!
If you have a job and income, but are overwhelmed by your finances, contact Capital Budget Strategies, LLC of Austin. For $149, we will help you get to a better place with your finances and set the stage for a fantastic retirement.
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