The Roman poet Decimius Magnus Ausonius (say that three times fast) once said: “Let us never know what old age is. Let us know the happiness time brings, not count the years.”
The average retirement age in America differs from state to state, ranging from 62 to 65, according to the U.S. Census Bureau. The decade before retirement – your 50s – isn’t time to coast like a teen suffering from senioritis. You should still be pursuing your dreams – and taking important steps to financial freedom.
Although we all share many common financial goals (eliminating debt, building wealth, etc.), the financial challenges we face are dependent upon our personal circumstances. A case in point is parents, who are challenged with saving for their retirement while also saving for a child’s college education.
Both financial goals are important and require a significant amount of money. They are also uniquely interlinked, as tuition bills often come due around the time most people are nearing retirement – a time when every dollar counts.