Preparing for a Life with Less IncomeI am planning to retire in the next three to five years. I have been thinking a lot about making sure I am in the best financial situation possible. I realized that it is really my second time planning to live on less income. 35 years ago I left the workforce to raise my family. That was temporary; this is probably going to be permanent. A lot of the things I did then to prepare for less income I am doing now.
Social Security Child Dependent Benefits and Child SupportIf you are divorced and have a dependent child and that child is receiving social security benefits, in most states, the benefit the child receives does indeed affect the amount of child support paid by the person responsible for paying child support.
Retirement Planning TipsPlanning for retirement can be sticky. We have not been in a position to save due to high medical costs. But there are a few things you can do.
Planning for RetirementRetirement, so you think you are ready or close to the magic age. Be prepared. Make sure you haven't any bills to pay out, like a car or house payments. Do you have your second insurance to cover you and your spouse when you see a doctor, or be rushed to the hospital?
Organizing Retirement PaperworkAs we get ever closer to retirement, I have found it very helpful to create a 3-ring notebook with dividers (home made out of old discarded file folders) for all the retirement accounts, Social Security info sheets, 401K investment reports, etc., for both my husband and myself.
