Episode 46: "Balancing Debt & Saving for Retirement"

How do you save for retirement while also trying to pay off lingering debt? It’s a tough dilemma that many pre-retirees and retirees find themselves facing these days. In fact, it’s a balancing act that can feel really overwhelming, especially with market uncertainties, inflation, and rising costs. But here's the truth—both goals are possible with the right strategy. In this video, retirement experts Tom Mosley and Kristin Oakley unpack some practical steps you can implement now to help you navigate this challenging financial landscape & secure your future without sacrificing your present. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 Balancing Debt & Saving for Retirement 04:50 Why the balancing act of debt and savings is so vital NOW 07:00 Step #1 Assess Your Financial Situation 14:48 Step #2 Prioritize High-Interest Debt 18:24 Step #3 Take Advantage of Employer Retirement Contributions 22:34 Step #4 Automate Your Savings 28:20 Step #5 Consider Downsizing or Make Lifestyle Adjustments 37:20 Securing a retirement plan/blueprint can help set you up for success. 41:00 Step #6 Explore Debt Consolidation or Refinancing Options 47:35 Step #7 Build an Emergency Fund 48:15 Step #8 Avoid Tapping into Retirement Accounts Early 51:55 How to Secure Help Creating a Plan
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Learn the key components you need to include in your retirement plan, check this video out: https://youtu.be/QkJzvbZ_gDs
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