Going through years of accumulated possessions and memories is probably not how you envisioned spending part of your retirement. It may sound like a daunting and emotionally draining task, but downsizing could be a savvy financial move, especially if you haven’t reached your retirement savings goals.
For long-term investment goals such as retirement, time can be one of your biggest advantages. That’s because time allows your investment dollars to do some of the hard work for you through a mathematical principle known as compounding.
For millennials, also referred to as Gen Y, retirement can seem light-years away. While retirement might feel like a lifetime away, the actions that people take in their 20s and 30s will often define what that retirement future looks like.
As we approach the New Year, you may be having another one of those classic moments of self-reflection. Will I finally become more organized? Can I commit myself to losing those few pounds that I have been meaning to for so long? Do I embark on that family trip to Europe which I have longed for? Continue reading “New Year’s Resolutions”