Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

What Size Retirement Is Right for You?

Written by Equifax Reporter on February 26, 2016 in Retirement  |   No comments

You might already have plans for your golden years, but finding the right size retirement for you is crucial to make them a reality. Unexpected health and other costs are bound to come up, so the sooner you know what you want retirement to look…

WhatSizeRetirementYou might already have plans for your golden years, but finding the right size retirement for you is crucial to make them a reality. Unexpected health and other costs are bound to come up, so the sooner you know what you want retirement to look like, the faster you’ll be able to adjust your plans to fit it.

Maybe you want to stay in your house but are no longer interested in lawn maintenance or climbing stairs every day. In this case, downsizing your retirement into a smaller home might work. Or you might decide to spend your years traveling by eliminating the need for a big home and significantly upping your vacation spending. For these plans, upsizing, budget-wise, is likely a better fit.

“The earlier you plan, the more time you have to make some of these major changes,” says Eleanor Blayney, Certified Financial Planner (CFP) and consumer advocate for the CFP Board, a non-profit that enforces standards for CFP certification.

Here are some factors you may want to consider when determining what size retirement is right for you.

The benefits of slimming down

Once you’ve evaluated your savings situation with a professional and have an idea of what your budget will be each month, you may find that it isn’t as much as you’d hoped or expected. If you’ll be living off of less than you were before retirement, slimming down your lifestyle is one way to adjust.

“After you’ve lived for several decades you just have so much stuff,” Blayney says, and getting rid of clutter and excess space may help simplify your retirement.

Cutting out transportation costs or meals may be one way to trim your budget, but you also may want to consider a different living situation. You could streamline your life with a smaller home and perhaps live closer to your family or friends to reduce travel expenses. Even if you don’t plan on changing your lifestyle much, cutting out expenses may be a good way to save more for medical costs in the future.

Remaining the same

Of course, the move into retirement can be a major change, so avoiding other significant shifts may help you better adjust to it. If you’ve already paid off your home and want to maintain the same lifestyle to which you’ve grown accustom, staying put might be the right way for you to approach retirement.

“Many people want to age in place and don’t want to leave their home,” Blayney says.

The more comfortable you are, the easier it may be to react to sudden changes in your health or financial situation. So while others might picture retirement as an extended tropical vacation, you might prefer to relax in your current home or volunteer with a local organization you’ve long-admired.

Living large(r)

Another option, if you’ve done your preparation, is to spend your savings on a slightly more lavish lifestyle. Of course, you want to have a plan for making your money last long enough, but if you’ve saved for decades in order to experience new and exciting things in retirement, now is an opportunity to do so.

“Once you first retire, you may do more traveling or get involved in more activities,” Blayney says. But this may also taper off as you get older.

This might mean splurging on a car you’ve always wanted or indulging a hobby by installing a workspace for it in your home.

Finding the right fit

The key to finding the right size retirement situation is knowing what you want so that you can be happy in retirement. If you want to travel but don’t have the money for it, downsizing at the start of retirement may help you adjust your budget to allow some travels in the future. If you can make these plans earlier in life then the right fit may be easier to find.

“Thinking about it early is hard to do but the reality is the earlier you plan and start preparing for these costs, the more discretion you’ll have over how you can live in retirement,” Blayney says.

Related Articles:
Understanding Your Retirement Plan Options
Are Americans Saving Enough for Retirement?
Working in Retirement: How to Plan for the Next Stage

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.

No comments yet

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Retirement Archive