Bankruptcy

Arizona Bankruptcy Equals Retirement Planning

By Joseph McDaniel, Esq.

They had figured out, independently of anybody else, that if they kept making payments on their credit cards the way they had been, they could never retire.

Never.

Period.

So, taking a hint from their analysis, I've talked about the issues, which are pretty simple: if you want to see how much money you're going to need to save to retire, go to an online retirement calculator.

And then find a debt repayment calculator and figure out how long, at your present rate of payments, it'll take you to pay off the bundle of credit card debt you have currently.

Get the picture?

It's an ugly picture, right?

So some smart people are coming to see me so they will, in ten or twenty years, have a chance to retire.

And sometimes they come see me before they've spent every dime in their 401(k), and sometimes after.

I prefer when they see me before they've turned themselves into penniless beggars, because that makes me sad.

Anyway, here's a video where I talk about that very thing!

And by the way, since I'm an Arizona bankruptcy attorney, I really like the idea that someday you can retire!

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on August 22, 2010 (boomark / email).