Three Retirement Tips - Evan Vitale
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Transcript of Three Retirement Tips - Evan Vitale
How to Retire When YOU Want
By Evan Vitale
Most people in America are hard workers. We are a nation of workaholics.
We work on average over 40 hour weeks and more than 20 percent of
Americans work 49 hour weeks; 11 million
Americans say they regularly work 59 hour
weeks.
But what are we working towards?
Yes, many are truly passionate about the jobs they have or the businesses they run and the
work is its own reward.
Even the people who say that must, however, look forward to the peace and professional
freedom that accompanies retirement.
Retirement doesn’t mean being trapped in an armchair watching TV. It can mean having the
money and freedom to start a new adventure!
So, in the interest of helping Americans reach retirement when they want, here are
easy tips to get there:
Set Goals for Savings
A solid rule to follow is to save 10 to 15 percent of your salary every year.
If you can do this - especially if you are able to invest it a safe, slow growing fund or retirement account - and start early, it is amazing how the
money can add up.
Compound interest will make that money really grow over the years!
Balance Your Portfolio
Everyone knows there are risks that come along with investing.
That is why diversified accounts are recommended at every level to every investor.
By having your wealth distributed between many types of investments, stocks and bonds included, and many different industries and companies, you will have a solid cushion if
one of those investments fail.
You might grow a little more slowly, but you will also be much more safe should anything
unexpected happen.
Make One Big Account!
Having diversification is key when it comes to investments but that doesn’t mean you need to
have a ton of different accounts.
It turns out that having all of your money in one large account is better because it makes it easier for whomever is managing your money to keep
track of all the funds available.
Also, having everything in one place allows for better chance for diversification. Two well
managed but separate accounts might share similar investments, for example both might
invest in the same mutual fund, and therefore the diversification of the portfolio as a whole is
compromised.
So, when you are getting ready to retire, you might consider rolling all of your funds into
one, easily managed, well diversified account.
Follow these tips and you will be able to have a much better shot at retiring when
you want!
Thanks for viewing! If you would like to see more stuff
like this, check out my blog at:
evanvitale.org