Work Longer - that is, past normal retirement age. In an report titled "7 Ways to Boost Your Retirement," (Nov. 7, 2007) Janet Bodnar wrote:
Consider working a limited longer. For the midpoint worker, staying on the job for just two more years lowers the estimate of savings you need to finance your retirement by about 25%, estimates the town for retirement investigate at Boston College. Not only do you get the advantage of the added income, but you also get a few more years to sock away money and accrue pension and communal safety benefits.
Publix
My father-in-law did this. He was complicated in manufacturing kitchen nooks most of his adult life. When he reached retirement age, he just changed to selling furniture rather than development it. He was quite good at it, too. He continued to do that until he was 82. I have jokingly told my wife that I would be bagging groceries at Publix for many years to come. My joke is looking more realistic now with my dwindling mutual funds.
Change your lifestyle - Bodner added:
Downsize. Financial advisers ordinarily propose that you assume you'll need about 85% of your pre-retirement income after you leave your job. But it pays to do a funds dry run. By paying off your mortgage, or inviting to smaller digs or a less expensive area, you may be able to increase your cash flow and get by on much less.
This may be well and good for Ms. Bodner, but some of us are not in a position to pay off anything, because we are still living from paycheck to paycheck. Possibly downsizing is a start and may gain us some ground, but it is not the respond to our financial delema. Yes, it was very poor planning (or total lack of it) and even poorer decisions that brought us to where we are right now, but if we recognize the statistics, there are many of us in the exact same boat - way up the river without a plan as to how we are going to terminate the journey.
Keep 50% of your retirement savings invested in the stock market. I have to admit that Bodner's report was written concerning a pre-recession stock market. Possibly there is still money to be made in the stock market. After all, there were a few that precisely prospered during the 1930's and 40's, but I do not think to be smart sufficient to be one of a handful that can outline out how to conduct to make money in this market.
There were a consolidate of other suggestions that I will not account for on, but they complicated using money that I no longer have at my disposal because of the stock shop situation.
But here's what I know. I do know that in spite of the economic pull back during this past Christmas season Amazon precisely showed an increase over the old year. There economic success may be a clue for us. Population are still buying, but they are being much more cautious than ever before. They are researching prices and products before development the purchases. Where is this investigate being done? Right here on the Internet!
My Proposal: My proposal is that in my declining years, I can do some investigate of my own and outline out how to channel a bit of the cash that is flowing over the Internet into my own retirement portfolio. Internet marketing is what I am speaking of. I can work from my own home and build a company by marketing the products that associates yield and make ready for sale over the Internet. There are lots of products and services that one can promote in discrete ways and earn a percentage of the sale price. The great thing about this speculation is that it costs very limited to try it. Thankfully, I still have a day job that is helping me to keep up with current bills. So it is not prominent for me to make lots of money immediately. This is not a get-rich-quick scheme. I have had my share of those and lost money on every one. No, this is a legitimate way to earn some money. It is the current wave that will take us into anything is the next wave. The Internet and Internet Marketing appear to be here to stay.
A Warning: I mentioned that it costs very limited to try Internet Marketing. However, where ever there is an opportunity for legitimate profit, there will be those who prey on the ignorance of others. I propose that you do your investigate before you make any decision about where to start. There are some programs that promise you great profit with limited work on your part. Avoid Them like the plague. Research, research, research. Don't be quick to conclude which method is best for you, especially if you are not pressed for time.
his comment is here Can I Ever Retire?
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