Good time to review finances
Dear Money Lady,
I am going stir crazy being isolated at home and have had lots of time to review my finances.
I read your book and have started using the Cash Tracker – it is a good way to budget, especially nowadays.
Thank you so much Marie Carmen!
It is good to hear that you are budgeting your income and expenses.
The Coronavirus pandemic has given us all time to think and provided a forced slow-down and a “pre-retirement” wake-up call.
As we do our part in “social distancing,” those of you who are child-free or no longer have young children in need of constant care; you’ve now had a glimpse of what it would be like to be home all the time. In other words, AKA: retired! So what do you think?
This is the time to start thinking seriously about how you want to spend your time in retirement. How do you envision your retired life and what do you want to do? Do you have an advisor that is helping you get to where you want to go?
There are so many choices and personal opportunities out there and you need to begin budgeting and planning your future in a way that allows you to become engaged and purposeful.
It is important to remember that happiness is not attained just when you retire. You need to be happy along the way to retirement and this is only achieved when you’re doing the things that matter most.
Continue to dream and to seek inspiration. Everyone knows what they have come from, but many are not so sure what they are retiring to. Why not take this free time to make a plan, keep a journal, begin budgeting your finances, write down your goals and consider going in a different direction and trying new things.
You will be surprised at how even making a few small changes will make you happier and more successful in every facet of your life, whether you are already retired or on your way to it.
Good Luck and Best Wishes,
Christine Ibbotson is the Author of Don’t Panic – How to Manage your Finances and Financial Anxieties During and After the Coronavirus and How to Retire Debt Free & Wealthy available at all bookstores across Canada. Financial questions can be submitted via www.askthemoneylady.ca.