retiredbrains.com
  • Home
  • Jobs & Work
    • Employers >
      • Account Login
      • Create Account
    • Job Seekers >
      • Account Login
      • Create Account
    • Work at Home >
      • Become a Chef Consultant
      • Become a Tutor
      • Become a Virtual Agent
      • Care Giving
      • Direct Selling
      • Freelancing
      • Medical Transcription
      • Selling at a Flea Market
      • Selling Online
      • Telemarketing
      • Translate Online
      • Write or Edit
      • Workers with Disabilities
      • Tech Jobs
    • Employment Assistance
    • Volunteering
  • Home & Family
    • Senior Living Resources
    • Grief Loss Support
    • Get a Dog or a Cat
    • Books on Retirement
    • Dating and Companionship
  • Travel & Entertainment
    • Boomer and Senior Travel
  • Money
    • Insurance Services
    • Social Security
    • Retirement Resources
    • Identity Theft & Scams
  • Health
    • Medicare
    • Health Care
  • Discounts
    • Products & Services
  • Blog

5 Retirement Tactics for Working People

7/20/2022

0 Comments

 
Want to save more cash for retirement but not sure how to get started with an effective strategy? You are not alone, because most working adults feel the same way. Recent economic downturns like soaring inflation and housing market disruptions have made it more challenging than ever to sock away money for the long haul. Is there a solution? Luckily, there are a few tactics that can increase a person's chances of initiating and slowly increasing the balance of a designated retirement account. The following suggestions can help you get priorities in order and begin saving as quickly as possible.

Know Your Options

​Find out what kind of benefits are available to you by asking your employer about 401(k) plans, matching provisions for payroll savings accounts, and any other company-sponsored options. Many private companies still offer generous matched savings plans that are essentially free money for workers who have the discipline to set aside a percentage of their incomes.

Adjust the Monthly Budget

​There is one simple math equation: when you reduce monthly expenses, there's more left over for other purposes, including IRAs and similar arrangements for your golden years. Of course, the trick is to figure out how to get those expenses down. For those who are carrying a balance on one or more education loans, there is plenty of potential. That's because a student loan consolidation can be an excellent, simple, and effective way to combine all the loans into a single monthly payment with potentially better terms, rates, and repayment timing. It's important to learn the ins and outs of how consolidating works by reviewing an informative guide that uses clear examples to delineate the benefits of the process.

Speak with a Professional

Spending money to pay for an hour session with a licensed retirement planner is a wise investment for most working adults. Unless you know the landscape well, take the time and make the investment to get solid, reliable advice that is based on your specific financial situation. Unfortunately, too many adults assume that paying an expert for financial advice is a waste of money. But if you find a competent service provider with experience in the field.

Check Your Earnings Record

​Create an account with the SSA (Social Security Administration) in order to access your lifetime earnings record. Another advantage of having an account is that you can use the online SSA tools to see how much you need to earn between now and retirement to achieve specific monthly benefit amounts. In about 20 minutes, users can see exactly how much they have already paid into the system and choose an optimal date for beginning to receive benefits.

​Downsize Wherever Possible

​There is a lot to think about at this stage and the considerations of downsizing your home and lifestyle are no exception. Make an honest personal assessment about where you can downsize. Is it possible to sell your home and purchase a smaller one, move into a townhouse, or buy an efficient condo? Do your own more vehicles than you need? What about all that stuff stored away in the attic, basement, and garage? Can you sell some or all of it for a quick cash boost? Downsize wherever you can in order to free up monthly cash flow for long-term savings.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    March 2018
    February 2018
    January 2018
    November 2017
    October 2017
    September 2017
    August 2017
    April 2017
    March 2017

    Categories

    All
    Activities
    Brain Health
    Dating And Companionship
    Drug Abuse
    Education
    Employment
    Entertainment
    Financial Planning
    Healthcare
    Healthy Living
    Money
    Retirement Resources
    Reverse Mortgage
    Senior Living Resources
    Travel

    RSS Feed

Employment Resources

  • Employment Assistance Info
  • Job Seeker Information
  • Find Temporary Jobs
  • Resume Writing Help
  • Part-Time and Temp Jobs List
  • Seasonal Jobs
  • Search Jobs
  • Where are the Jobs
  • Jobs for the Over 50 Crowd
  • Research URL's

Creating Income

  • Work at Home
  • Start Your Own Business
  • Increase Retirement Income
  • Funding Your Retirement
  • Retirement Planning
  • Reverse Mortgage
  • Apply for Social Security
  • Working & Social Security Benefits
  • Auto Insurance Savings
  • Home Insurance Savings

Most Read Pages

  • Identity Theft & Scams
  • Volunteering
  • Boomer and Senior Discounts
  • Products
  • Services
  • Continuing Education
  • Healthcare
  • Retirement Locations
  • Boomer and Senior Travel
  • List of Franchises

Resources/Info

  • ​Blog
  • About Us
  • Contact Us
  • Sign-up for Newsletter
  • Newsletter
  • News
  • Media
  • Advertising Info
  • Free Ebooks

Copyright 2022 by Retired Brains
Privacy Statement     |     Terms Of Use

Disclaimer: We do our best to ensure the information on RetiredBrains.com is accurate and updated at all times; however, we are unable to guarantee the accuracy of all information. We make every attempt to keep the content up to date and factual. For the most current and complete product/service details please verify with the merchant, product, issuer, or service directly via their website or during the buying or application process. Please be aware that RetiredBrains may have a financial relationship with some of the sites included on our Website. RetiredBrains.com may receive compensation if users choose to click on the links located on certain pages of this website and sales and/or leads are generated. If legal advice or other expert assistance is required, the services of competent professional persons should be sought.
  • Home
  • Jobs & Work
    • Employers >
      • Account Login
      • Create Account
    • Job Seekers >
      • Account Login
      • Create Account
    • Work at Home >
      • Become a Chef Consultant
      • Become a Tutor
      • Become a Virtual Agent
      • Care Giving
      • Direct Selling
      • Freelancing
      • Medical Transcription
      • Selling at a Flea Market
      • Selling Online
      • Telemarketing
      • Translate Online
      • Write or Edit
      • Workers with Disabilities
      • Tech Jobs
    • Employment Assistance
    • Volunteering
  • Home & Family
    • Senior Living Resources
    • Grief Loss Support
    • Get a Dog or a Cat
    • Books on Retirement
    • Dating and Companionship
  • Travel & Entertainment
    • Boomer and Senior Travel
  • Money
    • Insurance Services
    • Social Security
    • Retirement Resources
    • Identity Theft & Scams
  • Health
    • Medicare
    • Health Care
  • Discounts
    • Products & Services
  • Blog