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Take the Measure of your Credit History for Success

Make sure your FICO score is ready for later purchases

It is important to consider your FICO score and rebuild credit if necessary when planning for homebuying and retirement

While age is not directly a factor of the

FICO score, it can be an important part of it indirectly. For seasoned consumers, it is very important to know your score, especially when you are considering buying a home. Equifax expert Janet Dedrick explains in the recent article, “

Credit Trends: Does Age Factor into Your Credit Score?

The credit score of older consumers have many experiences, just like the people they belong to. When looking at a long credit history, it is important to consider

good debt vs. bad debt. For instance, older consumers may have the good debt of paying off loans in full, greater variety of accounts or deeper pockets to handle debt when it arises. On the other hand, they might have bad debt like losses from investments, late payments or more severe damage like a foreclosure or repossession. (Continued…)

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Are Your Retirement Savings Enough?

Make sure your retirement egg is big enough to handle unexpected problemsOften when people consider their

retirement savings, they think of how much they will need to live on while they aren’t working. Unfortunately, there is a lot more to consider when calculating how much money to save away. The Equifax Finance Blog points out many additional costs which need to be planned and saved for in a recent article, “

Preparing for the Worst: Evaluating Your Emergency Fund and Cash Savings.”

In addition to the normal retirement savings, like maintaining quality of life and preparing for trips and other fun, it is very important to plan for emergencies. A fund of anywhere from three to six months of expenses should be saved for emergencies and that is just the beginning. A fund of that size might get you through one or two relatively minor emergencies, but there need to be additional savings as part of your

financial goals, too. (Continued…)

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