Happiness is a Positive Cash-Flow

Would it surprise you to learn that my husband and I do not give each other gifts at Christmas? Or birthdays? Instead, we give ourselves the gift of living debt-free. We made this decision when we semi retired. We give gifts to family members and donate generously to charities. We decorate and bake Christmas goodies and swap them with neighbors. Some years we buy something for the house that we both would enjoy such as a small appliance or furniture, but in general we are content with what we have. The important thing for us is that we pay as we go.

Many seniors will never have a comfortable retirement because they carry more debt than they can handle. While the media drives everyone’s attention to what we should be outraged about, I pay attention to financial newsletters. The pensions promised to retirees are in a precarious situation. This is the time for wise seniors to reduce their debt-load or get out of debt completely. A good way to start is to reduce the family’s expectations around Christmas. No more striving for “the Wow! factor” in gift-giving or at least limit the number of them. Almost every senior I know is nostalgic for the Christmases of their childhood when times were tougher and gifts were more meaningful.

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