You might be thinking that there is no need to worry todayabout how you will be spending your retirement, but there are several things you can do nowto make those years much more enjoyable and stress-free. Preparing yourself for the retirement you want is never out of reach. Here are the four stages:
Stage 1: EARN
- Secure a job that allows you to make a living with some left over for saving or investing.
- Make sure you are living within your means and not spending more than you make.
- If you don’t have the means to set aside extra money each month, make it a goal to get there. Eliminate unnecessary spending, utilize your time and skills either towards this job or in finding another, and make saving a part of your budget.
Stage 2: SAVE
- Put aside money from each paycheck into a retirement fund. Many employers will have an option for you to delegate a certain amount from each paycheck to be deposited in a separate account.
- Put your money into things other than a savings account, like an IRA or other investments.
- Resist spending more money on things such as homes, cars, vacations, etc., as you make more throughout your life even though you can afford it at the time. Spending less on these now will only benefit your retirement fund later.
Stage 3: GROW
- You’ve got to do more than just put money into a savings account and expect to have enough saved based on the amount of interest you’re making or the money you’re depositing.
- Don’t expect to get rich right away, investments and savings may take time to show their worth, but in the end, you will be thankful you did all the right things.
- Consider a historically lower risk investment such as multi-family real estate. Learn more at apartmentvestors.com.
- Focus on diversifying your portfolio and invest in companies or assets that will pay you dividends around retirement age.
STAGE 4: PERSEVERE
- Once you’ve spent decades of saving and earning, be sure that your investments are solid and setting you up well financially for the future. Consider more conservative investments.
- Now is the time to secure everything by making sure your investments are still earning you income when you retire.
TO LEARN MORE ABOUT INVESTING:
ApartmentVestors originally served as a method of providing retirement income for the founding family. Now it is a company focused on giving the individual investor, who doesn’t have the experience and desire to manage a multi-family apartment complex, the opportunity to take advantage of the benefits large multifamily investments provide, right alongside us. By becoming an investor with ApartmentVestors your investment joins with others, thus pooling the millions of dollars in equity that is required to invest in these types of deals.
Learn more about how you can diversify your portfolio by investing in multi-family real estate. Additionally, you can contact us for a free consultation, call (913) 324-5900.
featured photo by: Simon Migaj