Setting Priorities
Setting Priorities

Consider starting a business at home while you are still employed. This may be a mail-order, consulting, selling or crafts business. Entrepreneurship is very risky an bogus get-rich-quick schemes abound, but if you are able to start with minimal capital at a time when you are still earning money elsewhere, you may be able to establish a profitable and fairly reliable trade by that time you retire. You will probably need legal advice as well, and you may have to look into local zoning laws on the kind of business you are contemplating.

Although most people who have established careers may be reluctant to change at this time, don’t rule out a career change or midcourse correction. Such a move, if made with care and wisdom, can pay off handsomely in salary increases and better pension benefits. It can even vastly improve your outlook on work. Increase your contributions to retirement plans wherever possible. You may acquire payday loan for additional funding.

Save more in general to increase your assets. At this age, however, do not consider risky investments as means of multiplying your income. Think about ways you can decrease spending, both now and during retirement. You may want to give up one car, or stop eating at expensive restaurants so often. Set priorities. These are personal decisions, and only you – or you and your spouse – can decide which trade-offs you are willing to make.

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