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Bankruptcy

: Arizona Bankruptcy Attorney Blog

Free Online Retirement Calculator to help you Decide to File Bankruptcy!

By Joseph McDaniel, Esq.

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I have told you that the reason some people file bankruptcy is that they woke up one morning and said, "If I keep doing what I'm doing, I'll keep getting what I'm getting."

That's called "a moment of clarity"; they realized that they would be making minimum payments on credit card debt, or other debt, until they died, and never get to retire!

Now, working three jobs and keeping none of the dough you get paid isn't the end of the world; you're on the right side of the grass, after all. You get to say hello on a regular basis to those you love. And after your third job, you do get to sleep for a little while!

But that's still not an optimal life. You know?

One way to have your own moment of clarity is simple; you find out how long it'll take you to pay off your credit card debt, or your deficiency judgment, or other debt, using a credit card payoff calculator.

Then figure out how long it will take for you to accumulate enough dough to retire, if you get to stop spending your money on your historic debt.

Why do I suggest that you use calculators?

Because other people (not me, of course) have these things called "emotions".

If you crunch numbers, you won't be working in the part of your brain that processes emotions, and the results jump out at you.

See, your time horizon is a critical thing.

Because at the point that you decide to start saving for retirement, you still have a bit of a road ahead of you.

And knowing how much time it will take you to retire will help you get off your exhausted, overwhelmed backside, and make an actual decision to file a bankruptcy!

So here's a link to one free, online retirement calculator; if you don't like that one, find your own!

And Merry Christmas to you all!

Full post as published by Arizona Bankruptcy Attorney Blog on December 19, 2010 (boomark / email).