Hi everyone! I’m new to this forum but have been following Jeremy on Instagram for a long time. Learning and motivated so much from his posts!
My partner is 56 years old and has a bit of debt ~15k, not much savings, and only recently opened a retirement fund through his company (he works for a non-profit organization). What are some of the best, efficient, and effective things he can do at this time to plan for a dignified retirement and a future together?
Thank you so much!
How much more can you provide about the situation? I prefer not to ask about income for various reasons.
I’ll go for the quick wins first. Knock out any high interest debt ASAP. Increase cash flow if possible. Cut expenses. Invest more. All the blanket statements.
If not already, track all expenses. Look for cuts that don’t add value.
Thanks so much for your reply - really appreciate your insight.
What more info can I provide? He does have a side hustle that brings in around an extra $1k a month, but it isn’t always steady and depends on his hustle.
When it comes to investing - what type of investing would be best? Since he is in his mid 50s, does index funds still make sense for him? How much should he be investing at this point?
Thank you so much, really value your insight.