5 Ways to Retire Comfortably With $500k

When surveyed by Schroders, 56% of Americans expect to have less than $500k when they retire. On top of that, 36% even expect to have less than $250k available by the time they retire.

When asking actual retirees, more than half (57%) had less than $250k saved at the time they retired.

Here are 7 ways to make sure you will retire comfortably with $500k. 

The First 10 Years Are the Most Important

Pay attention to the first 10 years. The early years of retirement are important. If things aren’t going well early on, it impacts the rest of your retirement.

If you notice that your retirement isn’t going as planned, you can decide to reduce your costs for a while. You can do that by cutting back on certain expenses or moving to a cheaper country.

Focus On Decreasing Your Spending

Find a Side Hustle

Do you have a lot of spare time? Then doing a side gig may be the best fit for you because it can add up to your savings. You may do side hustles after work or during weekends. 

Know how your expenses have increased, what your buffer is, and how much you can spend per month in retirement. Budgeting has never hurt anyone.

Keep Track of Your Finances

Invest More

You may try investing in stocks, bonds, or ETFs. Get over your fear of the stock market and start investing your first dollar. You may earn 7% per year on stocks on average. 

Swipe up to learn more!