Unless you were born into wealth or were lucky enough to get a high-paying job with a fabulous pension, your retirement won’t be a one-and-done situation. Building a comfortable retirement will be a series of strategies.
For example, having a 401(k) is great, but you also need plenty of cash savings. A paid-off home is a huge asset, but other forms of consumer debt could sandbag your dreams. A healthy Social Security benefit certainly helps, but not everyone can expect one of those.
Simply put, if you want a happy, comfortable retirement, there are specific steps to take, no matter your age. These tactics can help.
1. Take this quiz to see if you can retire comfortably
Maybe you never thought much about what retirement actually is, other than “that golden time when I no longer have to punch a clock.” But there’s a bit more to it than that, and SmartAsset’s free quiz helps clarify things both financially and personally.
Some of us are hesitant to look our retirement finances in the eye. It’s like stepping on a scale, or going to the dentist: What if the news isn’t good? But that’s where SmartAsset can set your mind at ease.
SmartAsset uses your quiz answers to match you with an experienced money planner in your area. This financial expert will go over your financials, then work with you to create a plan for the retirement you want.
Some people think they can manage their own retirement planning, thank you very much, but keep this in mind: A recent Vanguard study showed that a hypothetical self-managed $500,000 would turn into $1.69 million in 25 years, on average – whereas a financial adviser could turn those same bucks into $3.4 million.
Here’s what else a skilled financial adviser can provide: clarity. Maybe you haven’t considered what you want to do in retirement (other than sleep late). What might your retirement lifestyle look like: spending time with loved ones, traveling, volunteering? Staying where you are now, or relocating? Kicking back 24/7, or starting an encore career?
SmartAsset will match you with a planner who can help define your retirement dreams and fund them. Get started by taking this free quiz.
(Please carefully review the methodologies employed in the Vanguard white paper, “Putting a Value on your Value: Quantifying Vanguard Advisor’s Alpha.”)
2. Don’t let home repairs drain your bank account
Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your home can quickly become a nightmare and cost you hundreds or even thousands of dollars to fix.
But you don’t have to worry. Luckily, with a home warranty company called America’s 1st Choice Home Club, you can safeguard yourself against giant repair bills. From home appliances to electrical, plumbing, heating and cooling systems, it can all be protected.
Plus, their in-house service team is available 24/7 to help and ensure a hassle-free repair process if anything goes wrong. You can even choose your own technician, or they can send you one from their nationwide network if you don’t have someone in mind.
All over America, homeowners are choosing AFC Home Club for the savings, service and peace of mind that it delivers.
Stop worrying about household breakdowns, and get a free quote in 30 seconds.
3. Protect your wealth with gold
If a large part of your savings is in the stock market — as it should be — you’re already aware that what goes up can also go down, sometimes by a lot.
You can’t control the stock market, interest rates or the world economy. But you can hedge against uncertainty by having other types of investments.
The oldest and most ubiquitous hedge against uncertainty is gold. It’s been used for thousands of years to protect against everything from inflation to currency devaluation to political risk.
Don’t go overboard; most pros advise putting only about 10% of your portfolio into the Midas metal.
And keep in mind that not everyone in the gold business is on the up-and-up. Be careful whom you deal with.
Goldco is one company to consider. They offer just about everything, from precious metal IRAs to direct purchases of precious metal coins and bars.
Goldco has been around for more than a decade and has been recommended by celebrities like actor Chuck Norris and even former presidential candidate Ron Paul.
They have an A+ rating from the Better Business Bureau, a AAA rating from Business Consumers Alliance, and 4.8 to 5 stars on Trustpilot, TrustLink, Google Reviews and Consumer Affairs.
You’ll even receive up to $10,000 in free silver on qualified purchases.
Maybe gold is right for you; maybe it isn’t. But if you’ve ever wondered, why not take a quick look? Click here right now and get your free information kit.
4. Pay less for your car insurance
You hate shopping for car insurance, right? Well, guess what: Your insurance company knows that. That’s why they can jack your rates year after year, knowing you won’t go through the hassle of calling them on it.
But now you can find a better deal with no hassle at all. You can have MyBestQuoteOnline find quotes from top companies in minutes and see how much you can save.
It’s no mystery how they do it. You provide some basic information about yourself and your car. They take that info and compare it in real time to their live database connected to dozens of top insurance carriers.
Doesn’t require a lot of time, but it could result in big savings. And it’s something you can do during commercial breaks! Click here and check it out.
Bonus: Get a free $991.20 every year
You get it. This is the time to sock away money, to save more, to get your finances in order.
But you also get that it’s not always easy. If there were just one easy thing you could do every day to move the needle, to get ahead of the game, you’d do it, right?
Well, here it is: Take five minutes every day and check out the totally free Money Talks Newsletter. More than a million Americans have, and they’ve reported saving an average of $991.20 each year by checking our news and advice.
If you want the best tips and strategies to help you make more and spend less, delivered straight to your inbox, sign up for our free newsletter today.