Give yourself a financial checkup today to see if you’re doing all that you can to have a healthy and happy retirement. Here are eight tactics to help boost your bottom line.
As the world moves into yet another year of dealing with the persistent coronavirus pandemic, we’re all still struggling to wrap our minds around the many challenges we face.
First and foremost are ongoing concerns regarding the health of our families, friends, colleagues and others. But, of course, this isn’t just a medical crisis. For many, the pandemic is also taking a toll on their financial well-being. And the longer it drags on, the more it could threaten their ability to retire when and how they planned.
How can those workers avoid falling victim to a failing retirement?
For those who are out of work, the advice is fairly straightforward: Find good work as quickly as you can, and fight to remain extremely valuable to your employer.
For those who are still among the ranks of the employed, your financial outlook may be stronger. But if you’re worried about the health of your retirement plan, here are some remedies to consider:
Plan to work longer
This may be a bitter pill to swallow if you planned to retire soon. But it’s just a matter of doing some math. The longer you can keep working, the more you should be able to save for retirement — and you won’t have to spread the money you’ve saved over as many years. (For an eye-opening look at how long you might have to make your retirement income last, check out the Social Security Administration’s life expectancy calculator.)
