Retirement Sentiments: Managing Your Life after Retirement
Most Americans have mixed sentiments on retirement. There are many who look forward to retirement as the time when they can be free to do whatever they want to do with their lives and there are also those who dread the idea of retirement. In most cases, people who harbor negative sentiments on retirement are those people who do not really have enough money stashed away for their retirement.
If you are one of those people who are harboring some negative sentiments on retirement, you should evaluate your situation thorough and try to come up with a plan to improve your financial status before you reach the retirement age. Always remember that harboring negative retirement sentiments and not doing anything about it will not really make things easier for you when you retire. If you want to live comfortably during retirement, you need to do something make some positive moves towards improving your financial status.
Getting Out Of the Financial Rut
The first thing that you need to do to get rid of your negative retirement sentiments is to get out of the financial rut and start setting aside money for your retirement. No, it is not impossible to get out a financial rut. Even if you are already way over your head with debts and you are holding three jobs just to make both ends meet, you can still turn the tables around with careful financial planning.
Take a closer look at you monthly income and compare it with your overhead expenses and debt amortization. Your income should be more than your expenses in order for you to survive and the same time save some money for your retirement. Yes, things can get a little bit tight but once you are through paying your debts, you will feel better. You might not even have so many negative retirement sentiments once your financial status improves.
On the other hand, if things don't look very encouraging and there is no way you can repay your debts within a given period of time even if you hold three jobs, your only way out of the financial rut is bankruptcy. Find a good lawyer and file for bankruptcy under Chapter 13 of the Bankruptcy Code. No, Chapter 13 Bankruptcy will not discharge your debts but it will allow you to defer payments of some of your debts and help you save your properties from foreclosure.
