According to GoBankingRates, 74% of Americans say that they are stressed about money and one of the biggest financial concerns that most people face today is how they can save for retirement.
Aspyre’s Chief Wealth Officer Jessi Chadd shared with the publication retirement planning savings tips that can benefit anyone, especially those hoping to retire before turning 60.
“Start by doing away with any expenses that do not align with your core values,” said Jessi Chadd, certified financial planner (CFP), certified financial transitionist (CeFT) and chief wealth officer at Aspyre Wealth Partners.
“Take a quick values assessment to identify what really matters to you now and for your future. This will be different for everyone,” she said. “Then look through your “values lens” when deciding if an expense is worth it or not. If it isn’t adding any value to your life, then free up that money to invest in your early retirement.”
“I suggest eliminating anything on auto-pay,” Chadd said. “This includes streaming services, audiobooks, food subscriptions and such.”
“This type of spending is practically invisible because the charge is automatically applied to your credit card each month,” she said. “By removing the convenience of a subscription, you need to decide each month if the expense is still worthwhile.”
Read the full GoBankingRates article here:
MORE RETIREMENT PLANNING
Planning to retire in a few years? Read Jessi’s article in The Kansas City Star and consider taking her recommended three steps before you make the leap.