8 Ways To Avoid An Unhappy Retirement
You can't control the economy, and you can't always avoid health scares or changes in circumstance.
But there are things you can control, from small to big: everything from the kind of car you drive to the amount of money you put into savings each month.
Why not start now?
?Let's recap eight things you can do to sidestep the unhappy bin:
1. Ditch the BMW and stick to the Asian brands. The ultimate driving machine is a shiny new money sump - get a car that gives you comfort and cushion instead.
2. You don't need a second career as a stock trader. Keep your day job! Not really - you're retired, remember? But do leave the investing to the professionals.
3. Give your money a purpose. Find a cause you are passionate about and contribute either money or time.
4. Don't move and don't renovate. They're both too costly - you don't want to start out your retirement in the red.
5. Make big-ticket purchases before you retire. Take care of big purchases one to three years prior to your retirement date, including (but not limited to): new boats, cars, and RVs, expensive artwork, or a pricey vacation.
6. Plan and budget for your retirement. Happy retirees spend at least five hours a year planning for retirement. You should, too.
7. Make sure your Rich Ratio is over 1. It's not how much money you have that matters; it's how much you have in relation to how much you spend.
8. Check your pessimism at the door. Pessimism can be costly, and fear is almost always financially devastating. Don't let pessimism lock you out of missing out on a stock market and economy that, despite the road bumps, will flourish over time.
This post is an excerpt from "You Can Retire Sooner Than You Think: The 5 Money Secrets Of the Happiest Retirees," by certified financial planner Wes Moss. Moss is the chief investment strategist for Capital Investment Advisors and host of "Money Matters."
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market