Last time I mentioned imagining that you’re one of the many women following the trend of living in a van and making it their own little home as a way to become motivated to declutter. That exercise is also useful even if you don’t think you’ll ever have to downsize, because you never know what kind of curve ball life might throw at you down the road.

Many women will reach retirement age with very little in terms of support, but they don’t realize it now. Unless they’ve had a great job with wonderful benefits and managed to save up a sizeable retirement account (and/or will receive an impressive pension), they may find themselves on a very tight budget if their husband dies first (statistically likely).

Many women have been disappointed to learn that because their husband didn’t earn an above-average wage, they’re only receiving a small monthly stipend from Social Security, not enough to live on unless they’re debt-free and live very frugally.

One of my friends lost her husband to cancer when they were in their mid-50s. She had been a stay-at-home mom and still had one teenage child at home. She was shocked to learn that she couldn’t even get widow’s benefits from Social Security because she wasn’t 60 yet. Financial aid from one of her older kids is the only reason she’s not homeless now. Today she’s in her mid-60s and living on Social Security; her husband’s job didn’t offer a pension, and they never had any spare money to save for retirement because they spent it all raising kids.

So unless you have plenty of money waiting for you in retirement, now’s the time to reduce your expenses so that you don’t end up living in a van in your old age. Cash out everything you own that you don’t really need anymore. Find a more inexpensive place to live. If your car isn’t paid off, sell it and buy something less expensive.  Then take the money you save each month and sock it away for your retirement years. You’ll be glad you did.