Not having to go through the daily grind anymore but kicking back and relaxing instead is something to look forward to. However, once you’ve retired you’ll need to have enough money to survive on without that monthly paycheque coming in. This takes careful planning and preparation long before you reach retirement age. If you don’t plan for retirement early on, you may find yourself in dire straits in old age. Here are 20 signs that you might retire broke.
You didn’t start saving early
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You live beyond your means
You have credit card debt
You’re still paying off your house or car
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You haven’t considered how much you’ll need
You haven’t considered inflation
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You don’t have a budget
You don’t have an emergency fund
You haven’t invested
You have no alternative sources of income
You cash out your retirement savings plan when you change jobs
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