Whether it’s traveling, pursuing a lifelong passion or simply kicking back and relaxing, retirement is your time to be you, without the stress of a full-time job.
But one thing’s for sure: Long before you call it quits, you’ve got to plan, and save, like never before. Your biggest challenge? To make sure you’ll have the money to do the things that bring you happiness and fulfillment for the rest of your life.
Not to worry. You’ve got this.
Here are the steps to take now to help see you through your golden years.
1. Get an extra $1.7 million for retirement
A study by investment firm Vanguard found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you enlist professional help.
Of course, there are no guarantees a professional will do better than you, but with that much at stake, isn’t it crazy not to at least check it out? If nothing else, they can help you create a plan, maximize your Social Security, protect your assets and offer you peace of mind by ensuring you’re on the right track.
And thanks to a totally free matching service it’s easier than ever to find the perfect local pro. You fill out a short questionnaire and are instantly matched with up to three local fiduciary financial advisers, all legally bound to work in your best interests.
The process only takes a few minutes, and in many cases you’ll be connected with an expert immediately for a free retirement consultation.
Nothing to lose, lots to potentially gain: Take a minute and check it out right now!
(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 or auto 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.
The same thing applies when it comes to your vehicles.
As with homes, car repairs are also in the stratosphere. One shop told Consumer Reports that a decade ago their average repair was $1,600. These days the average bill is $4,000.
If you’re concerned about coming up with thousands of dollars for a repair bill, protect your investment with Endurance.
Endurance provides extended warranty plans of up to 36 months. These aren’t auto warranties, but they’re auto-warranty adjacent. Choose from among three types of plans, to get only the coverage you actually need, for cars up to 20 years old.
All warranties include 24/7 roadside assistance plus rental car benefits while your vehicle is being repaired. For the first year, you’ll get the Elite Benefits program for free; this includes complete tire coverage, key fob replacement, a collision discount and a payment of up to $1,000 if your car is determined to be a total loss.
Endurance has a network of more than 350,000 ASE-certified repair shops. More importantly, Endurance pays the repair bill upfront. All you need to cover is the deductible.
I know. Extended car warranties are the poster child of rip-offs. But Endurance is the real deal. They have a 4.2-star rating with Trustpilot. ConsumerAffairs.com calls it “a solid choice” for drivers of any age and “particularly appealing” for those with older vehicles.
Protect yourself from costly auto repairs.
3. Protect your wealth with precious metals
During the last recession, many hard-working Americans lost a lot – including their retirement savings. Now some economists are predicting the next recession is just around the bend, so now’s the time to prepare.
How? Use American Hartford Gold to diversify with an asset like gold or silver, either delivered to your door or in your IRA.
According to some experts, there may be less than 20 years’ worth of mineable gold remaining in the ground. They ain’t making any more of it.
American Hartford Gold has a five-star rating with Trustpilot and an A+ rating with the Better Business Bureau. If market volatility’s got you down, or if you just want to invest in an essential (and tangible) commodity, give American Hartford a try.
Note: American Hartford is available only for those with at least $50,000 to invest. Too much? Another quality company, Lear Capital has minimums as low as $15,000.
See why thousands of Americans are turning to gold and gold IRAs to protect their wealth.
4. Turn your mortgage payment into a monthly payday
You’ve spent years maintaining and building equity in your home. Now it’s time for your home to pay you back.
A reverse mortgage is a government-insured loan that lets homeowners 62 and older convert their home equity into cash, but without selling their home. Take the money however you’d like: monthly, lump sum or line of credit. Use it however you’d like: home repairs, bills, traveling or simply living a better life.
Your home remains yours. You hold the title until you die or choose to move elsewhere, provided you maintain the home. When you leave the house, the loan is repaid.
A reverse mortgages can make huge difference in your quality of life. But they’re not for everyone, so it’s important to get more information. Also important: Not all lenders are equal. Be careful who you deal with.
One lender that’s highly rated and happy to answer questions is Longbridge Financial. They’ve earned 4.8 of a possible 5 stars from Trustpilot, and Consumers Advocate says, “By far the best online experience and tools among all the reverse mortgage lenders we reviewed.”
If you’re 62 or over and have equity in your home, it’s time to at least need to see what your options are.
5. Don’t bankrupt yourself with long-term care
You’re healthy now, but don’t kid yourself about the future. The government says there is an almost 70% chance that someone turning 65 today will need long-term care at some point in their lives.
Even worse for your pocketbook, 20% of people will need care for longer than 5 years.
With monthly costs for a private nursing home room running upwards of $9,000 a month on average, long-term care can quickly bankrupt you. Medicare doesn’t pay for ongoing care, and Medicaid will require you to spend almost everything you have before they help out.
The answer is to check out long-term care insurance. This product can be more affordable than you think, especially if you buy it early.
Without LTC insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.
It’s impossible to say whether your current health will stay good. That’s why investigating long-term care insurance through GoldenCare is so important: It protects you and your family.
Note: GoldenCare does not operate in Alaska, Florida, Hawaii and Washington.
6. Use this secret source for massive discounts
Are you over 18? Then you’re eligible to save hundreds every year simply by joining AARP.
“What?” You say, “I thought AARP was for old, retired people.”
As it turns out, AARP doesn’t have a minimum age to join. And members get discounts on hundreds of things, like:
- Up to $200 person off flights
- Up to 30% off rental cars
- Up to 15% off restaurants
- Up to 20% off hotels
You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games and tons of information, programs and resources.
Anyone trying to save money can’t afford not to join AARP, especially since the cost is as low as $12 per year with auto-renewal. You’ll likely recoup the cost in the first week.
They even give you a free gift to sign up!
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