Avoiding Post-Retirement Money Problems
Retirement planning often focuses on what you need to do while you are working to have enough to
live on after you retire. However, there are some common financial difficulties retired people can run
into even if they have a well-funded retirement plan. Here are a few potential dangers you will want to
look out for if you are retired.
As we age we become less able to identify financial scams or cons. Many of these, over the phone or
through the mail, ask for personal information, such as bank account numbers, Social Security
numbers, dates of birth, etc. If you are ever unsure about a potential investment opportunity and
whether or not it is legitimate, you can contact the Securities and Exchange Commission or your
state's Attorney's General Office.
Credit Card Debt
For seniors who use credit cards, the potential impact of too much credit card debt can be significant.
If you are living on a monthly fixed income you will want to use credit cards sparingly and only if you
are able to pay the bill off at the end of each month. If you maintain a balance the interest payments
can balloon and quickly become more than you can afford.
Salespeople can often try to take advantage of the elderly by using aggressive and unfair tactics. They
will often claim that there products or investment opportunity that will provide guaranteed benefits
or risk-free rewards. You should always ask a salesperson how he or she is paid. If the salesperson is
unwilling to answer or doesn't provide a clear answer, this is a warning sign that the deal is shady.
Experienced estate planning attorneys Port St. Lucie FL of the Robert J. Kulas, P.A. offers estate
planning and business planning resources to residents of Port St. Lucie FL. To learn more about these
free resources, please visit www.kulaslaw.com/ today.