Late Career Challenges

Now that the kids are gone you're probably focusing on getting your home paid off before retirement.  Of course, there will probably be other debts for many years such as car payments, etc.  Before you get too excited, make sure that you understand all the ramifications of paying off your mortgage as quickly as possible.  You are still going to have some major capital purchases in retirement and you need to know that it's how you pay for these things that will make the biggest difference in your retirement lifestyle.

By definition, it is not possible for you know what you don't know.  And to add to the problem, everything you know, you think is the truth.  Unfortunately, there are a lot of people and industries that profit handsomely from our ignorance.  It is imperative that you learn the truth if you want to have a successful retirement.

By this point in your life you're probably thinking that taxes are one of your biggest enemies.  You're finally earning more money but now many of your deductions - your kids and your mortgage - may be gone or nearly gone.  You may be tempted to do anything you can to reduce your tax bill today, but be careful.

You probably have not given a lot of thought to this until lately, but this will continue to present many challenges to you throughout your lifetime.  It seems confusing.  You hear that inflation is low but to fill your grocery cart it costs 2-3 times what it did a decade ago.  Something doesn't seem right.