The importance of reducing debt before retirement

Steve & Ted
Monday, December 11th

Moneytracker Don Grant says debt can greatly affect retirement income.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

I can't thank you and Aaron need do you Jamie suggest. You need Sheridan has come into my eyes it's called me. Thank you. Maybe seven Christie Kerr and the best answer we aren't even there in the morning. Now all three big dangerous. Congressional Republicans looking for consensus on tax reform bill won't seeing. Wildfires still burning across southern California law and weekend shooting itself which saw one dead one wounded big big things he's been dead on K and assess. Today's gasoline prices here in the Wichita area of the gasoline prices were looking at the most common seems to be. Rounds two and nineteen. Gallons to nineteen feet yeah. Average price here with Doug it's time track does gain assets brought to you by judge Robin gross Goodyear tire pitted downtown market and Waterman and east every street mall and on line across there dot com your home from. The guard here. Sunny and. Breezy today with a high of 61 degrees. North wind at 125 miles per hour this afternoon. Mostly clear and cool tonight the overnight low 29 Tuesday sunny and Merck tomorrow's high 51. Now partly cloudy west winds fourteen miles per hour 41 degrees. Afghanistan is whether brought you by the monarch open at 11 AM lunch Monday through Saturday. And move on Sunday maybe can be found at monarch Wichita dot com the monarch. In delayed oh. 649 now Stephen Ted a convoy loaded with Christmas briefs. Is on its way from down east to main for a weeklong journey to Arlington national cemetery in Washington. The recent villain on tombstones this holiday season. The reefs across America caravan. Left Columbia falls yesterday where the reefs were made. It'll travel through Maine and New Hampshire Massachusetts Connecticut New Jersey Delaware Maryland and Washington DC. Before arriving in a week in Arlington Virginia a chance last week we had a a guest on that was left me to know is doing yep that a guest on talking about that locally and how they were and it raising money for reefs across America that. Tell you how many there are in Arlington. On one graves Don grant the moniker I've note you know now I've no idea I've been out there it just goes on for. I hundreds of acre well it's beautiful. And again if you go to Washington DC and you miss Arlington. Yeah. They got to see that changing of the guard now says it's terrific been that are twice and I still haven't seen. The whole the whole play now I know it's I think it's been a day of garlic. He almost I mean it goes. I did not go up to the big house on the hill what you probably leads hole right right I missed it you know and he's keep walking belliard to seal kinds of famous people rate that hey if you do not get a lump in your throat Obama is Armstrong a vary stirring but actually what got me a few wouldn't nailed me and that was it. John F Kennedy's grave where it is most prominent finger urged thing with the eternal flame Brett is an interesting start walking up it that this way. There's a little cross about two feet high Robert Kennedy. This is really really just the most humble thing ever seen anyways. Stocks. Higher following a better than expected US jobs report Friday. The strong finish push to Standard and Poor's 500 index to its third straight weekly gain despite some weakness earlier in the week. The gains were widespread the S&P 500 rose fourteen points the Dow. Gained over 117 the NASDAQ Composite rose 27. The transformational event the antiquated Monte Carlo casino hotel Las Vegas into to a higher in properties as well underway. With a robust art collection of rooms that have a residential feel of their overall romantic atmosphere. The renovation of the property contrasts sharply with the city's stereotyped glitch. Changes will result in the 2700 room. Park MGM and the approximately 290 room. No lead Las Vegas. To the places were diagram plays statement average today. Is that they're much. Me neither I don't gamble and never. Like I went to see Rickles you do it that's worth that that was mile Odyssey two days. And that it is 651 Stephen dead and I were talking about to their retirement budget. Shift with Don grants the FB demonic record. Well you know while we're working Steve were paying for many things that probably won't be much of an expense and retirement dry cleaning. Buying the business suits and ties in all the skirts and everything that women by. Commuter costs mortgages retirement savings and college savings plans to travel good wine physical activity and hobbies. In exotic look day Cal's those well that's the hope. The that you have the united you're gonna have all that stuff when you retire. I USA today poll of 45 to 65 year old shows that older Americans want to significantly increase their discretionary spending on dining out and travel. When they retire. Well 25%. Want to earmark 21 to 40% of their retirement budgets to travel. Just 13%. Actually think that they can actually do that. Just 2% of those surveyed surveyed are currently setting that much aside for trips. While 98%. Are spending more. A more realistic zero to 20%. On those sort of discretionary things. More than half of respondents want to devote less than a fifth of their income to basic living expenses like health care utilities and groceries. Fewer than 40%. Believe that they'll actually reach that goal. Most think that they'll need to dedicate forty to 60% of their income on just basic living expenses. The gap between desires and expectations. Is widening for the three and recently retired groups. Recent recessions. And in the past twenty years and job losses have set some retirement plans back. The markets have recovered but those who didn't continue to invest to have more. I am much less rather to show. Then you know for those years. The USA today poll shows that 20%. A 4565. Girls have no retirement savings or investments. And 22%. Have less than 100000 dollars. Healthcare is the big unknown for most retirees. Congress is hell bent on repealing the Affordable Care Act with. Bills that may also slash Medicare benefits. So monies saved from those who work related expenses. Are being deployed to provide health care coverage sets off on him. One key strategy for soon to be retirees is to work hard now to reduce debt. That includes mortgages car payments and credit card debt get those out of the way before you retire. And that the more that is whittled down. The greater your cash flow will be in retirement because all of it income that can then be dedicated to things other than paying off others stuff. And of course Yemeni questions you can give me a call number 634. YouTube. 22 if you can imagine if you manage you know like you said Donna you've said many times you can management manager you're going into retirement. Don't be carrying a lot of debt with. Yes but it card debt things like this package you're hearing it come is either gonna go down or go up in retirement you know and sometimes when you start taking our MD's ago as the candidates have inhabit for the most part he. You don't want that debt straddling if you can today is national app day. The work that was listed on the word of the year as a word of the year in 2010 by the American Dialect Society. It used to mean in a restaurant business. I'd like to apps over on table 32 you know appetizers really yesterday its short war changed software application. Apps quickly appeared as our mobile cellular phones incorporated sparked acknowledges including processing chips Internet connectivity and touch screens. Now since that time apps have changed how we work live and play. They have created thousands of new companies billions of new jobs and billions of dollars in revenue I didn't understand that partly us and lots of time to little on your devices and should be in yesterday's average using the app on my cell phone. Wake up to take a photo of my granddaughter. And I didn't know how to as Julian. Weren't that she's like David to buy other granddaughter who's thirteen and haven't showed me how to do it we're using the aperture is the camera and an incident that percentage to get an ad and I camera products and associated with the area. But apt kind of rank with the words sap. Which my dad used to accuse me of being one of our what you often tell me as a show mighty app or yeah yeah Don what you're saying is crap we are you about if you're going to go to that. The go to where cap. Now okay fine ahead. Enough of this rhyming and would like to thank you say thank you can't. 656 Dowd sat in bed at about 7 o'clock have a complete look at today's news post snap. The firefighters struggling to control what I hear the fires in Southern California the stories about me to death on innocent why.