4 Pillars in Victoria Can Help Retirees with Their Debt Restructuring
Many people think that retirement is one of those times when you can spend your days in peace and quiet and not have to worry about work concerns. In most cases, they might have cashed in their pensions and lived off them. What if the accounts bled from overspending and you find yourself in debt?
The above can give people in Canada, especially those retiring or planning to retire, something to ponder on. An international retirement survey by Natixis Global Asset Management/CoreData ranked “our home and native land” at No 14 out of 150 potential retiree-friendly countries due to relaxed quality of life and modestly good healthcare options. When you need better flexibility with your finances when you retire, and achieving that means settling your current debts, you can figure it out with a 4 Pillars debt consultant in Victoria, such as Mr. Blair Greenwood.
Spending Habits
Your spending habits bear much re-evaluation when consulting a finance professional about your budgeting options. MoneySense cited data from a recent study which revealed that Canadians spend $2,400 on nationwide average every month. The breakdown may be unsettling in a sense, with $668 on housing and $581 on meeting living expenses. Many respondents even admitted to spending $10,000 of their retirement funds in a single blow.
A regional analysis even bears watching. Maritime residents were tagged under the above average, at $1,975, but a big chunk is spent on living expenses. B.C. residents saw housing costs as a large part of their $2,073 monthly bills. Albertans were like their Maritime counterparts, meeting living expenses first with their $2,648 average monthly spending.
Consulting Debt Specialists
Debt restructuring specialists, 4 Pillars Debt Consolidation & Credit Rebuilding for Victoria, BC, take pride in a special programme that will objectively analyse your spending habits and recommend ways to change them, as well as help you work out a solution for your current debt problems. You can disclose the full picture of your assets and debts to better gauge how your payment plan will go. Such planning may be critical if you’re a few years away from retiring and need to settle all arrears by then.
Nobody wants to be left penniless after working very hard to earn his security in later years. While cash-outs from RRSPs, CPPs, and RRIFs may depend on how much was set aside over the years, effective debt settlement and budgeting with a 4 Pillars consulting agent will ensure that your finances will be carefully managed.
Sources:
Canadian retirees spending an average $2,400 a month, MoneySense
How to lead an active retirement on a tight budget, Financial Post