Retiring Is Easy, Staying Retired Is Difficult.
We Specialize In Keeping You Retired.
Retirement Strategies For The Procrastinator
In this blog, we offer five retirement solutions and strategies if you find that you procrastinated in saving for your retirement.
Strategy 1: Take action immediately.If you know you don’t have a comfortable amount of savings to retire, take action today to figure out what you need to do. You’ll likely have to ramp up your retirement planning immediately, and instead of focusing on what you didn’t do, we suggest focusing in on what you can do. The fact that you made it to this blog means you’re taking a step in the right direction!
Pro tip: Figure out how much income you’ll get from Social Security, investment interests, dividends and pensions, and then after you determine that number, live off of it for two years before you retire. This will give you a sneak peek into what your retirement will be like.
Strategy 2: Save more than you think you should.If you have a certain amount you’re planning to save to make retirement work, we suggest saving even more than that! Most financial experts suggest to save 15 percent of every paycheck as soon as you enter the working world, which substantially adds up over time. Since you’re likely a little late in the game, determine the bare minimum you need to pay for your basic necessities and put the rest towards retirement.
Strategy 3: Consider moving.If you’re currently in a city that has a high cost of living, consider moving to a less expensive city. Location really does matter, and the cost of living tends to increase as you get closer to U.S. coast lines.
For more desperate measures, you can sell your home and put that money toward a more humble retirement lifestyle.