This week I’m talking about materialism and how it might be wrecking your retirement. Materialism places utmost importance on money, the things money can buy, and outward signs of financial success. 

Today, I’m talking about the first sign that materialism might be wrecking your retirement: Debt. 

The amount of debt that Americans are dragging around is alarming. The average American now carries over $137,000 in debt, and that number has been skyrocketing for the last several decades. 

High debt and little to no savings characterizes our materialistic culture today. A nice house, 2 car payments, student loans, and $10,000 in credit card debt later, it’s no wonder that almost 40% of American adults wouldn't be able to cover a $400 emergency with cash or savings. 

We are up to our eyeballs in debt, with no savings even for the inevitable emergency, it’s no wonder that so few Americans are able to retire with confidence. I talk to too many people who are stressed out financially, but they aren’t willing to live somewhere cheaper or trade in their car for something less expensive. Too many of us have become slaves to our stuff, and it’s wrecking our happiness today because it’s stressing us out and it’s putting us further and further behind on more meaningful financial goals. 

If you aren’t on track for retirement, it’s time to take an honest look at where your money is going every month and ask yourself if you can truly afford your current lifestyle, or if you are just kicking the can down the road and sacrificing financial stability later in life for better stuff today. 

That’s it for today, but before you go, would I be correct in saying that your retirement is perhaps the most important financial decision you’ll ever make? You want to get it right. Well, so do I. For the last 12 years, I’ve been helping clients just like you make the transition into retirement. If you want to talk one-on-one with me about whether or not you can retire, head on over to truenorthra.com, where you can book a 15 minute call with me, at a time that’s convenient for you. The call is confidential, free, and I promise to help guide you on whatever is weighing most on your mind right now regarding your retirement. So head on over to truenorthra.com and book a call today. 

Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip. 

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