Managing money for retirement can make it even more enjoyable - KYTX CBS 19 Tyler Longview News Weather Sports

Managing money for retirement can make it even more enjoyable

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TYLER-(KYTX) 54-year-old Willie Reed or "Mr. Willie" as his co-workers call him, loves his sales associate job at Wal-Mart. He works in the paper and chemicals and said it keeps him busy because "everyone needs toilet paper."

His job helps support his family and keeps him active instead of being home all day. But he's not just at Wal-Mart because he wants to be. Willie used to be an air conditioning contractor. Five years ago he was put on disability after undergoing bypass surgery.

"Between the medications and the heat and stuff it got to where I couldn't work anymore." Willie said.

But social security and medicare weren't enough to take care of his family.

"I go down to wal mart, I spend my money there, I might as well work there." Willie said.

Although Willies disability is different from retirement, he faces the same problem.

Leigh Currie-Nerren is a Financial Advisor at Edward Jones Investments and works with seniors preparing for retirement. She said the biggest question she gets is "Am I going to run out of money?"

The rising cost of living is what puts the fear in the seniors that visit with Currie-Nerren. Inflation is expected to go up and the value of the dollar is expected to go down. Which makes it even more important to budget your money.

Currie-Nerren believes a senior's money should work for them as hard as they have worked for it (their money). She said the biggest mistake seniors make is not knowing how to manage their money.

"People who have been too conservative with their money and on the other aspect people who have gotten too aggressive with it and they've lost a lot of money," she said.

Willie plans to stay at Wal-Mart because the extra money helps. But he has a few bigger things in mind too.

"Everybody wants to be a store manager." Willie said.

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