One of the ugliest features of the Great Recession and its dreary aftermath has been the high rate of long-term unemployment, which the Labor Department defines as being jobless for 27 weeks or longer. About 1.4 million people altogether were long-termers as of January 2014.
Today, the economy is improving and the jobless rate is falling, but that leaves lots of newly employed Americans picking up the pieces of their financial lives thrown off the rails by the recession.
What if you're 50? You don't have as much time to make up for lost earnings and forfeited retirement contributions. But there are steps you can take to get your retirement plans, and your finances in general, back on track.
- Celebrate (in moderation).
- Assess the damage and set a new budget.
- Start saving and tackle debt.
- Get a checkup.
- Catch up on retirement.
- Plan on it happening again.
For the details of these steps see the complete article here.
No comments:
Post a Comment