Sometimes simple addition by subtraction is the best course of action, and this is something to keep in mind as retirement beckons.
What we are referring to by suggesting addition by subtraction is a concerted effort to reduce debt as part of your long-term retirement plan. It may seem like an instance of overstating the obvious, but many people do in fact have a tendency to carry debt and pay only the minimum amount that is necessary on their mortgages, car payments, and credit card balances.
These days the return on conservative savings accounts is modest to say the least. As a result, if you do the math you may find that you are putting your extra money to better use by utilizing it to pay down high interest debt rather than saving it.
The thing about long-term planning is that a relatively modest effort done consistently over an extended period of time can have a profound impact eventually. If you pay something extra toward the principal on your mortgage for a decade or more you may be doing the best thing possible to prepare yourself for a comfortable retirement.
Working within an intelligently conceived framework with retirement in mind is the key to being able to step away from the workplace and do all the things that you have always hoped to do when your golden years arrived. Should you be interested in devising a cogent plan for the future, take action right now to arrange for a consultation with a seasoned and savvy Hartford retirement planning lawyer.