60 and broke?

5 steps when you’re 60 and broke


A study from The Hartford Financial Services Group has found that more than 28 percent of people between the ages of 60 and 69 have "no idea" when they will be able to retire, and more than 33 percent 70 and older are in the same boat.

[the list]

  1. Find a job.
  2. Cut your housing costs.
  3. Reduce the cost of owning a car.
  4. Don't be too proud to apply for whatever help you can get.
  5. Keep your health insurance.
Comments: When I was 38, I feared being handicapped, 60 and broke. I've learned to live with the handicap and we took definite steps to make sure we wouldn't be broke. My own additions to "the list"
  1. Find a job. Get a second job.
  2. Do you have stuff in a storage compartment? You probably don't need most of that - sell it!
  3. If you cannot afford insurance, maintenance and keeping it safe (good brakes and tires), you cannot afford a car at all. Consider public transportation and really save some money!
  4. Can't afford your house. Sell it. Get the smallest apartment you can live with.

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