Article for Those in Their 50s

[rduell]

I thought this article, 8 Money Moves You Must Make at 50 was interesting. I'm just entering my 40s but think it's important to know how to prepare for the future.

[vishenda]

I love good reads from Liz Pulliam Weston. yes you're right we should start preparing for our future, even teenagers need to be taught too!
I love what she said on "Get your kids off the dole"

thanks

[disneysteve]

I find it disturbing that 50% of those aged 50-59 still carry credit card debt.

[Ima saver]

That is true. Plus the fact they don't have their house paid off.

[rob62521]

I found the section interesting about getting a student loan and owing it into their 80s. Scary thought!

Don't you think because so many 50+ don't have their homes paid off or enough money because they believe when they want something, they want it NOW! I'm not yet 50, but we usually save up for big ticket items and althought I might charge it on my credit card, I pay it off when it comes due. People I work with act like I'm nuts -- saving money for something?????

[Ima saver]

I was always just the opposite, I wanted my house paid off as early as possible. Car payments don't bother me that much, but making house payments did. I got my house paid off when I was about 31!

[Aleta]

What a great article even for a 1 house income earner. Have to think! It is too easy to get into the old habit of spending.

[disneysteve]

Originally Posted by Ima saver

I was always just the opposite, I wanted my house paid off as early as possible. Car payments don't bother me that much, but making house payments did.

This goes against the common "good debt - bad debt" theory. Ideally, you shouldn't borrow money to purchase a depreciating asset, like a car. It is ok to borrow to buy an appreciating asset, like a house. Glad it worked for you, but from a strictly financial standpoint, it probably wasn't the best way to go.