8 Ways To Save More Money In Retirement

If you’re getting close to retirement age, it’s perfectly normal to be excited. One day, you’ll hand in your resignation at work and begin counting down the hours (instead of the weeks or years) until you’re living life on your own terms. You’ve worked your entire life for this moment, so it’s only natural to look forward to this change with gratitude and enthusiasm. But, if you’re like most Americans, there may be an issue. You may dream of restful mornings reading the newspaper and late night card sessions with friends, but that doesn’t mean your bank account agrees. A recent study from the Economic Policy Institute (EPI) showed that, as of last year, the average household nearing retirement (ages 56–61) had only $163,577 in retirement funds stashed away, while the median was only $17,000. This is a far cry from what most people will need to truly retire, at least if they hope to quit working completely. 8 Ways to Boost Your Income in Retirement If you’re nearing retirement and finding the math doesn’t work out, it may be possible to find a semi-retirement solution that lets you leave your traditional job while earning money on the side. If you’re already retired, on the other hand, there are plenty of ways to boost your cash flow so you’re not struggling every month. According to some of the top financial advisors I know, some of the best ways to create multiple income streams in retirement require nothing more than some skill and...
Source: Healthy Living - The Huffington Post - Category: Consumer Health News Source Type: news