Retire Rich With These 4 Very Useful Tips
With the cost of living so high nowadays, we need all the help we can to boost our retirement savings. The thing is, a lot of us think about making huge investments or saving big to be able to retire rich. The truth is, it’s the small things we do that can make the difference between a comfortable retirement and struggling at the end of our lives.
So here are 4 simple things you can do to retire rich:
1 – Micro-Investing
When we talk about investing in the stock market, most of us run scared thinking it involves investing large sums of our hard-earned money with the risk of losing it all in a volatile market.
Well, here’s an easy way to start investing your money – for no risk at all. And it isn’t huge sums of money; you’d be using your spare change to make these investments. There are now apps available that can help with micro-investing. Apps like Clink.
All you need to do is download the app, fill in your details, link either your credit card or checking account to the app and set a fixed percentage of your expenses for Clink to use for investments in ETF portfolios and slowly save enough to retire rich.
2 – Bank Bonuses will help you retire rich
Would you believe that you can make money by opening a new bank account? Well, it’s true. You can make an additional $200 to $400 just for opening a new account. Here is a list of banks that offer hefty bonuses for opening accounts with them.
3 – Maximize your 401k
A lot of us are already preparing for our retirements and one of the ways to do so is by setting up a 401k. What we don’t usually know is how to maximize our savings using that 401k.
Well, here is an app that can help you with just that. It’s called Blooom and it tells you the health of your 401k account in just a few minutes. You will be able to find out if you’re paying any hidden fees which are eating into your savings. You will also find out whether the investments you have are in the correct mix in order to maximize your earnings. This app will also tell you how much you are losing out and the opportunity cost by not maximizing your investment in your 401k.
4 – Save up to $5,000 a year to retire rich
With a little bit of effort you can actually save up to $5000 a year. Here is a list of things you can do over the course of a year to grow your savings significantly:
- If you’re good at writing, think about freelancing – you could make thousands a year. This list of sites will pay you for your writing.
- Register for online surveys with sites like Ipsos i-Say and Swagbucks. You can make up to $5 a day by taking a 30 minute survey.
- You can also look at signing up for clinical trials and make extra money. If you have migraines, or have chronic back pain, or some other problem, make it work for you. You can check Acurian Health, which can help you get connected to clinical research studies.
- Rent out the extra space in your home on Airbnb.
- Use your car to become a driver with Lyft or Uber.
- Sell the electronics and books you don’t need on Decluttr.
There are countless ways to make extra money, and if you take advantage of these, you really can retire rich.