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Hello Everyone, Joshua Abel with the Forever Wealth Team, a financial planner in Naples,
Florida. Over the past couple of videos we've been throwing you some tips on retiring successfully.
Hopefully you got value out of those videos. Here's another tip for you. Before you retire,
pay down as much of your debt as possible. Credit cards, mortgage, car payments. Anything
that you have revolving debt on, do anything in your power to pay those down because essentially
when you retire chances are your income is probably going to be less than what it is
now. So, if you are paying into a 401(k), please remember you will have to pay taxes
on that when you start taking distributions and that money if there is anything in there
will essentially be less than what you are used to making. So, if you pay down those
debts early, you'll reap the benefits of having that additional income to do whatever you
want like with. Hopefully, you got value out of this video. If you did, make sure to comment
and share below. Please visit us on our website at www.foreverwealthteam.com. Thanks so much
and have a great day!