Debt Reduction Can Lead To Stress-Free Future
One of the things that people look forward to when they envision retirement is the ability to live
Try as you might, it can be very challenging to keep stress at bay when you are fully engaged in your
working years. Putting the tension behind you while you kick back and live simply as a retired
individual can certainly be a pleasing prospect.
Debt is probably one of the biggest sources of stress that we have. If you could pay off all your debts
as retirement started to peak over the horizon your income needs may be relatively modest.
With the above in mind, the suggestion here is to consider debt reduction as one of the most
important steps that can be taken to prepare yourself for your golden years.
The interest that you pay on your loans can be stifling. If you were to pay off your mortgage loan well
in advance by adding an additional payment to be applied to the principal each month you could find
yourself in a very satisfying position when your age of Social Security eligibility arrives.
We highlight the mortgage payment first because it is the biggest debt that most people have, but this
is just part of the equation. Do you really need that brand-new car when the one that you are driving
is paid for, perfectly comfortable and mechanically sound? Can you really afford to make that next
large credit card purchase?
Making things less complicated by removing red ink from the ledger can go a long way toward
facilitating a stress-free retirement lifestyle. Exactly how to go about doing so is something to discuss
with a licensed and experienced Oklahoma City retirement planning attorney.
Experienced estate planning attorneys Oklahoma City OK of the Parman and Easterday offers estate
planning and business planning resources to residents of Oklahoma City OK. To learn more about
these free resources, please visit www.parmanlaw.com/ today.