3 Ways You Can Be Preparing For Your Post-Retirement Future Now
Life comes at you fast. Time is thief. You think you have it to spare, but before you know it, you look behind you, and 20 years is gone. What happened to all that money you earned throughout your life? Many people have the greatest of intentions to save up for retirement, but there’s always something ‘more urgent’ that comes along. Maybe your car blows a tire, perhaps you have a family emergency, and it just might be that you just blow your money without realizing it.
Most people have been there. It’s not so easy to prepare for your future when you don’t know what that future will hold. Lucky for you, it’s never too late to change some habits or to even start a few new ones. If you do these things, you’ll be better prepared for the days to come.
Here are 3 things you can do to prepare for your post-retirement future now:
Secure Your Essentials
There are 5 basic needs to survival. Anything outside of these necessities is basically a luxury. The five necessities are: Air, Water, Food, Shelter, and Sleep. Hoping that you don’t end up with a disease that leaves you unable to breathe for yourself, and hoping that the Co2 in the atmosphere doesn’t deprive us of oxygen any time soon, air is a necessity that is free to you. The same usually goes for sleep and water, as well. This means, that as you reach retirement and post-retirement age, the only things you’ll really need to worry about are shelter and food.
You will get old. It’s the circle of life. You never know if your children or family are going to be able to care for you in your old age. This is why it’s always a good reason to start looking into your options for securing your essentials now. Find a place that encompasses all your needs. Assisted living homes are great for this. Other than looking around, start putting away money for it now.
Save Your Change
Money goes fast. If you’re not careful, you can end up spending way more than you make. An idea for saving money in the future that is simply said and done is this: Save your change. Try not to use your debit or credit card for everything that you buy. Instead, carry around some cash and every time you have change, don’t just give it away, but instead, designate a place for it in your car or in your home. You’ll find that after a year, or even just 6 years of saving your change, in addition to your ones and even possibly your fives, you’ll have a lot of money to cash in on once you hit post-retirement age and find yourself a bit short on cash.
Invest in Stocks
You’ve probably heard about the stock market for a majority of your life and the thing that has likely stopped you from cashing in on the cash cow that it is, is the lack of understanding you have for it.
Don’t let be the reason that stops you. Get yourself a financial advisor now. It’s worth any money they might charge. If you learn how to make your money make money for you now, you’ll be set for life. It’s all about investing in mutual funds and putting in money over a set period of time, and then never having to put in another penny. Sounds convoluted now, but this is honestly one of the best things you could be doing with your time now to prepare yourself for your future.