For many women, the years after 60 are dominated by the transition into retirement. Finally, all the savings and investing you’ve been doing for decades feel real. Your last day at the office isn’t out of reach; you can start pulling money from your retirement plans penalty-free and soon begin collecting Social Security. As you navigate your 60s, consider these eight smart money moves. Consolidate Your Retirement Accounts If you’ve worked for more than one company throughout your career, you likely have multiple retirement accounts at different institutions. If you haven’t done so, now is the time to consolidate everything into one central account. Utilizing one prominent account will make tracking statements, balances, and logins easier. Plus, if you need to take required minimum distributions (RMDs), it will be easier to keep track so you don’t miss an RMD and…
5 Sneaky Ways Your Mind May Be Sabotaging Your Spending (And Keeping You in Debt)
Read More at Well+Good If news of a looming recession has you feeling stressed about your finances, know you’re not alone. Surveys show that most Americans are uneasy about the prospect—and what it may potentially mean for their personal economy. Even before inflation hikes, 50 percent of U.S. adults said they felt stressed when discussing their finances, and 60 percent felt anxious just thinking about money, according to a 2021 study by George Washington University. But looking at, thinking about, and talking about money are some of the best ways to deal with financial stress. Furthermore, financial experts will tell you that, when it comes to preparing for a recession, paying off debts (the average American has $14,241 worth of credit card debt, reports Ramsey Solutions) and saving money for an emergency fund are among the smartest steps you can take.…