A recent survey by AARP found that many Americans over 50 don’t feel confident about their finances. However, if you follow these 3 specific strategies, as explained by Peter with Richon Planning to Erin Kennedy, you will certainly feel more in control, and you’ll be setting yourself up for a financially happy retirement. Here’s a look at those three strategies: Utilize the Bucket Strategy: segment your money based on time horizon which will allow you to grow your savings while still paying the bills Consider Semi-Retirement: According to data from the Bureau of Labor Statistics, the number of people 75 and older who are still working is expected to grow by 96% by 2030 Have a Plan (crunch the numbers): only 42 % of people have ever calculated what they’ll need to live on in retirement. First step, make a budget. Then, create a plan that allows you fund your ideal retirement If you have any questions about how to finance your retirement to make sure you don’t outlive your money, please give Peter a call at (919) 300-5886 or visit www.RichonPlanning.com
3 Strategies to Retire with Confidence
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Understand Your Investment Options
A fundamental understanding of the different options you have available with your money will help you make more effective decisions about your placement of savings and investments, and what each dollar’s job is for you.
