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So, we can expect, most likely, a record amount of peopleretiringthis year.
To overcome overspending, youll need to get to the root of the issue.
Whats driving this overtly destructive behavior?
In some cases, you might consider therapy to get to the root of what causes you to overspend.
Avoiding Your Debt
Debt sucks.
It sucks so much, you may not even want to face it.
The stress of looming debt over your head can also impact the quality of your retirement.
Ideally, youll be going into retirement without any debt, but thats not the reality for most.
So, if youre carrying debt, draft and stick to a realistic plan to pay it off.
Youll find that with consistency, youll build momentum and make progress over time.
The cost of living is increasingly expensive and wages, overall, just arent keeping up with it.
But c’mon, dont go into retirement without an emergency fund.
Putting All Your Eggs in One Basket
Financial experts frequently preach the importance of adiversified investment portfolio.
Theyre doing that because if you go into retirement without one, you could be screwed.
Ignoring the Importance of Financial Literacy
Generally, were not taught much about personal finance in school.
Its not uncommon to carry this dangerous lack of financial literacy throughout our lives.
Spend 20-30 minutes each week learning something new about finances.
Financially Helping Family Too Much
This is a tough one, potentially.
But if youre not super careful here, you could seriously hurt your retirement.
Before offering financial help, take an honest look at your budget.
If youre on track with your retirement savings, then lending a hand might make sense.
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