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Boomers: 3 Blogs That Will Help You Erase Personal Debt

For a lot of boomers, the start of a new year marks another year closer to retirement. For some, that’s an exciting prospect. For others, fears or doubts about their personal debt and the amount of savings they’ll need to securely retire can get in the way. These blogs tackle some of the topics that can help boomers find answers to common debt and savings questions, which can help them make decisions that suit their
retirement vision.

1. Everything Zoomer

Everything Zoomer is geared toward boomers and seniors who are interested in protecting their wealth, erasing their debt and successfully managing their personal finances.

This blog post on 7 Money Myths That Can Cost You covers a lot of ground. Of specific interest is that Rogers, the author, debunks the myth on debt. Debt doesn’t have to be an accepted part of life, especially as you head into retirement.

Finding ways to tackle consumer debt rather than living with it will help your finances flourish and help protect you as your financial and professional landscapes change in the coming years.

Another post worth reading is one that discusses the rising number of seniors seeking bankruptcy help.

If you’re worried that your personal debt is becoming overwhelming and too much to manage on your own, seek professional help from a Licensed Insolvency Trustee (LIT) as soon as possible. An LIT will help you understand your options and resolve your debt problems.

2. Boomer & Echo

This blog post: 8 Habits That are Killing Your Retirement Dreams is a pretty comprehensive article that gets to the heart of the financial behaviour that can have a lasting negative impact.

Overspending, constantly upgrading and mistreating your credit card are some of the issues covered that lead consumers to take on more debt.

Have you ever heard of the debt snowball or debt avalanche methods of reducing personal debt?

Boomer & Echo takes a look at both personal debt repayment methods and uses one couple’s debt as an example of how to apply the methods, and the benefits therein. It’s a great primer for anyone looking to reduce their own debt by simply changing their financial management behaviour.

3. Retire Happy

Retire Happy takes a different approach to financial blogging.

With a focus on retirement-specific issues, they work to educate readers about the ins-and-outs of retirement finances.

Instead of offering tips or tricks on current financial trends or opportunities, the blogs are about teaching readers what they can expect in the years ahead as they approach retirement. Readers are able to really consider how to move forward with the best retirement plan for them, so they aren’t surprised by how their current debt load, additional consumer debt, or lack of savings affects those years.

These posts: 5 Simple Steps to Get Out of Debt and Seniors, Retirement and Debt focus on debt issues that are relevant to boomers and seniors. Carrying debt into retirement is risky business, and reducing it before you retire should be a priority.

There’s useful information on specific retirement strategies, too. Their blogs on
income splitting in retirement, and how much income is needed in retirement cover
some common questions boomers and seniors should ask themselves about their plans
in order to avoid debt.

Retirement is a time that can be fraught with many different anxieties for boomers.
What will my day-to-day life look like? Will my health be good enough to travel?
Should we stay in our home or downsize? How can we help out our families if they
need it?

But with the right resources, financial retirement planning can be less nerve-wracking
than you might expect. Tackling personal debt before retirement, and managing your
savings so that you have the wiggle room to make decisions about your housing, family
involvement, and recreational activities can help. Take advantage of the information
the bloggers above can provide to you and your family.

Are you actively planning for your retirement? Tell us on Twitter. #LeaveDebtBehind
#Boomers #ChangeYourMind

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