9 Ways to Rebuild Your Finances

By: Source: AARP Bulletin Today Date Posted: 2003-06-30 14:21:53

1. Save more, and spend less.

2. Stay at your job longer, if you're still working.

3. If you're retired, consider returning to work—maybe part time.

4. Examine your whole asset picture (including your home, pension, etc.). You may be better off than you think.

5. Review investing basics, especially the idea of spreading your money over investments of varying risk.

6. Figure out when you'll need cash from your investments. You may have more cushion than you realized.

7. If you're moving to CDs, check out available rates closely. They can vary a full percentage point—a huge difference in today's marketplace.

8. Consider putting some money into an annuity that pays right away. Annuities are complex, so be sure to consult an expert.

9. If you're pinched, consider trading down on your house or taking out a home equity loan or reverse mortgage.

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