Take control of your brain health as you age. Visit Staying Sharp — it's free for AARP members.
by Jane Bryant Quinn, AARP Bulletin, January 1, 2010
The poohbahs say the recession is over, but that doesn’t mean that everyone is free and clear. If you’re out of work or were pushed into early retirement, hone your spending now. Don’t kid around. Nothing is more important than bringing your lifestyle into line with your resources.
Ditch your credit cards. Sell your second car, if you have one. If you’ve been helping your kids, explain that you can’t do it anymore. A lump-sum payout from your employer should go into a bank or a money market mutual fund, to keep it safe. Use no more than 4 percent to help with bills this year (if you take too much, your savings will run out before you do). Reinvest in mutual funds only when your finances have stabilized.
Even if you weren’t harmed by the economy, revisit your spending and pay down debt. Debt-free equals worry-free, in early retirement and beyond.
Jane Bryant Quinn is the author of "Making the Most of Your Money Now."
Please leave your comment below.
You must be logged in to leave a comment.
Get tips and resources to protect yourself from fraud and see the latest scam alerts in your state.
Members save 15% on in-store purchases of frozen yogurt, treats and apparel.
Exclusive program for members from The Hartford.
AARP members receive exclusive member benefits & affect social change.
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at