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6 Ways Senior Living Can Save Money

Posted by Erin on May 15th, 2023 · 0 Comment

If you’re getting on in years, it may be high time to think about your financial situation. Senior living is a great way to secure your finances as you age. Not in the hushed, awkward whispers of yesteryears, but with the transparency it deserves. After all, senior living isn’t just about sipping lemonade on the porch or knitting sweaters for the grandkids. It’s about securing a lifestyle...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

6 Ways Senior Living Can Save Money

Critical Financials’ Basic Personal Finance Rules

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