Live Below Your Means for a Happier Retirement

April 30, 2012

Equifax experts suggest you live below your means to grow your retirement savingsWith the tragedy of so many living from paycheck to paycheck, it is time to realize that even in this turbulent economy, it is time to start seriously

saving money and not just for big purchases. There is a lot of money that needs to go into retirement planning to have a safe and enjoyable retirement. The Equifax Blog has a new article to help guide you, “

Preparing for the Worst: Evaluating Your Emergency Fund and Cash Savings.”

To start saving money for

retirement, you need to live below your means and start a savings effort. This means eliminating expenses where possible and making sure your income is much greater than your expenses. These savings work best when people strictly stick to them and not dip into them for splurges. Don’t think of the savings as an amount that can be used when it needed, but instead as untouchable money.

This untouchable fund needs to be at the very minimum three to six months of living expenses just to cover basic emergencies or a loss of income from an investment or other revenue stream. This is just the start, as you will need an expanded savings portfolio to match problems like hospitalization and other potential problems which can reach into tens of thousands of dollars.

For more information about how to save for retirement and first steps to what you should consider for an

investment strategy to make your money grow, explore the Equifax Finance Blog. There you will also find all kinds of great information on taxes, credit, real estate and many other financial topics.

Categories: Economy, Education

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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