The five years leading up to retirement are your last chance to pay down debt and seriously fund your nest egg. Taking care of a few odds and ends can make your retirement years more enjoyable. Here’s how to boost your retirement finances during your final years in the workforce.
I – Word Understanding
Nest egg – savings (especially for future use)
Odds and ends – miscellaneous, small matters
II – Have Your Say
1. Have you already thought of your retirement? Please share some of your plans.
2. Here are things suggested that we should do 5 years before retirement:
– Start living on your likely retirement budget a few years before you retire so you can ease into your more restrictive fixed income.
– Try to max out your 401(k) and individual retirement account, if at all possible, during your final five pre-retirement years.
– Meet with a financial advisor.
– Tackle major and minor repairs of your that might need to be taken care of in the next 20 or 30 years.
– Pay off your vehicle and home.