What long-term financial goals should baby boomers have or strongly consider?
It’s not that any particular age is significant, but your stage in life likely will affect your goals and desires.
Doughroller.net offers these five suggestions:
Get out of debt: Ridding yourself of debt is important as you transition from your working years to retirement.
Maximize retirement savings: It's never too late to save and invest money, even at age 50.
Plan for big expenses: At 50, there are likely some big expenses yet to come – college costs, weddings, and travel.
Seek career freedom: Maybe you’d like to be able to work anytime, anywhere rather than going into an office. Maybe you’d like a career change. If you enjoy what you do more, it’s likely you’ll work longer, which helps with retirement.
Think about where you’ll retire: At 50, you should begin to think about where you'll retire, and what the financial consequences are of your decision.
Dream dreams: This is a bonus goal. Don't stop asking questions about what you really want to do. We only get one shot at life.
See the article “Five Financial Goals Every Baby Boomer Should Set” for links to resources to help you achieve these goals.
