Retirees, Take Note
Everyone wants to live a comfortable retirement. A life free of work obligations where you can pursue all your interests and rest easy knowing that you and your family members are secure.
It may seem like living out that perfect retirement is more of a dream than a reality.
But it doesn’t have to be.
Saving money for retirement is easy if you make smart choices and utilize money-saving strategies. Before you know it, you will have stockpiled enough money to make all your worries disappear.
Follow along and you’ll be on your way to a $1 million retirement in no time.
Produce More Than You Consume
This one is often easier said than done.
But if you remain mindful about your spending habits and commit to making realistic choices about spending, you can definitely do it.
“Produce more than you consume” could also mean “Save more than you spend.”
It’s the age-old smart moneymaking theory. Start by putting away 20% of what you make into a savings account. So for every $5 you make, put $1 away. You’ll still have a large chunk of your income to spend.
See how that method works for you and then adjust that savings percentage depending on what you are most comfortable with (the more you can save, the better!).
Soon you’ll be growing your savings and with it your peace of mind.
Now, I know some of you may be thinking that saving even 20% of your income is impossible.
Well, luckily there are other ways to pinch every penny.
Utilize Strategies to Save Extra Cash
There are lots of ways to stretch a dollar.
But I bet you don’t know about all of them yet.
After all my years working in finance and learning money-saving strategies, I know so many I could write a book.
So I did!
Invest the Capital You Make
This is another one that is often easier said than done. After all, the stock market is a scary, volatile place.
That’s why in Wealth Watch (along with my premium services) I provide stock market strategies and recommendations that anyone can follow. This way, even a stock market newbie can learn to invest their money.
Choose an amount of money that feels right to you and then read my recommendations to see where you might like to invest it.
After doing some research on your own to make sure that this is the right choice for you, invest your money and then…
Let That Capital Grow
This is the fun part.
But it can also be stressful.
I know, it’s easy to want to get out as soon as you see your money start to grow.
But you have to be patient. Often, the longer you wait, the better the results will be.
Repeat This Process
You can (and should!) repeat this process again and again!
If you continue to save money and then invest that money in smart ways, you will watch your savings stockpile into numbers you never even dreamed of (maybe even $1 million!)
Here’s to growing your wealth,
Chief Income Expert, Mike Burnick’s Wealth Watch