Retirement

Like any major life milestone, retirement can be a time to take a close look at your finances. Many people carefully work out a retirement plan that includes financial adjustments, but you'd be surprised how seldom credit cards are factored in.

Here are a few simple steps that can help you manage your credit cards as you enter retirement as well as a few ideas on how to maximize their value given certain goals.

1. As you're working out your retirement budget, don't forget to factor in your monthly credit card expenses. Can you continue using them at your current spending rate? Now's a good time to check.

2. If you carry a corporate card, contact your accounting department to find out how to smoothly transition off of it. Clean up any outstanding balances and expense reports before you leave. Make accounting aware of any charges that might come in after your departure date.

3. Another travel tip. If you travel with a spouse, you may want to carry more than just cards on the same account. That way if one of your cards is lost or stolen, you will still be able to use a credit card.

4. If you have any specific questions concerning the use of credit cards during your golden years, consider speaking with a financial advisor or contact the Credit Counseling Services office in your area