7 Surprisingly Easy Ways To Reach Your Retirement Goals

25 sep, 2020

Whether you want to retire early or work until you can't anymore, having a plan for how to retire comfortably is critical.

1. Have A Professional Review Your Plan

If you're fortunate enough to have a substantial amount of retirement savings and investments, now is the time to futureproof them.

2. Keep An Emergency Fund

According to conventional wisdom, you should keep three to six months' worth of expenses in an emergency fund. However, once you retire, you'll most likely want to increase that amount.

3. Diversify To Mitigate Risk

With a sinking economy and rising inflation, diversify your investments. Because gold is negatively correlated with the stock market, it's a popular recession investment.

4. Think Outside Your 401(k)

A 401(k) is a great way to save for retirement, but it has limited investment options. You may want another account with more flexibility. Working with investment-savvy companies will help you reach your retirement goals.

5. Generate Passive Income

Many successful retirement strategies rely on passive income. This one's easy. People who need storage can rent your garage, shed, basement, driveway, closet, and more. It can earn hundreds a month.

6. Become A Landlord

Long-term rental income is popular. Real estate is less volatile than stocks and has returned up to 6% over time, making it a good way to diversify your portfolio.

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