3 Simple Ways to Start Saving for Retirement

8555470138_dd02570908_zToday we have a guest post for you about how you can get started investing for retirement. Enjoy!

Saving for retirement is sometimes put off by people because they think it’s too complicated. However, there are easy ways you can start saving for retirement. You’ll be much more likely to reach your retirement goals by starting now.

If retirement investing confuses you, try these three simple steps to un-complicate the process and get started saving for retirement today.

Create a Financial Plan

Making and sticking to a budget is only part of what you should do to begin saving for retirement. You should also try to cut expenses that are not necessary and for things you can live without. Pay down your debts and call your credit card companies to negotiate lower interest rates, especially if you consistently meet the minimum payment requirements and make your payments on time. Open an emergency savings account. Create a plan and a timeline for your financial goals, including your retirement goals, and you will have a better chance of meeting them. If you get your finances in order by doing these things, you’ll have more money to put toward your retirement savings.

Consider Crowdfunded Real Estate

You can save for retirement by investing in real estate whether you have a large amount of money to get you started or not. Crowdfunding is a way to begin investing in real estate when you don’t have a lot of capital. You can add the money you have available to the money of other investors and all share the gains. Crowdfunding can be done with a Real Estate Investment Trust over the internet.

A Real Estate Investment Trust, or REIT, gives its investors a regular stream of income while diversifying their investments. The REIT usually has a management team with real estate experts who figure out how to invest this pooled money into real estate in ways that are not normally available to a single investor.

For example, a crowdfunded real estate investment company will spread the investments over several properties so the risk of losses is low while the potential for increases and liquidity is high.

Invest in Mutual Funds

Vanguard or Prudential are mutual fund companies you could choose to invest in for your future retirement. Bonds, stocks and other assets are a few of the ways investors can put their money into funds in a brokerage account in one of these companies. You can also choose to invest with a robo-advisor. Some of these offers the most popular Vanguard funds as “buckets” you can choose from when you set up your account.

If you are just getting started as an investor, you don’t have to have a ton of money. In fact, you can get started with only $500, and as the funds gain, the income can be reinvested to increase profits. There are sometimes losses too, but all gains and losses are shared among all of the investors. Of course, there are some fees, so ask about these so you know exactly how much you are paying for these services. In addition, if you have questions, you can ask a professional such as a financial planner.

Life is complicated, but investing doesn’t have to be. Using these 3 simple ways to start saving for retirement can help you meet your financial and retirement goals for the future.

Have you started saving for retirement? What’s holding you back?

Enjoy Plunged in Debt?

Pid

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Comments

  1. I also like ETFs (Exchange Traded Funds) in leu of mutual funds… mainly because the carrying costs are so much lower. It can easily be a 1% annual difference in cost savings. Definitely worth looking into IMO.
    Brad, Financial Coach recently posted..Do you have what it takes to become debt free?My Profile

  2. I just started with my mutual funds. Though it’s a bit late for my age, I think it’s still good that I have now.
    Kelly recently posted..Is This The Best You’ve Got?My Profile

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3 Simple Ways to Start Saving for Retirement

8555470138_dd02570908_zToday we have a guest post for you about how you can get started investing for retirement. Enjoy!

Saving for retirement is sometimes put off by people because they think it’s too complicated. However, there are easy ways you can start saving for retirement. You’ll be much more likely to reach your retirement goals by starting now.

If retirement investing confuses you, try these three simple steps to un-complicate the process and get started saving for retirement today.

Create a Financial Plan

Making and sticking to a budget is only part of what you should do to begin saving for retirement. You should also try to cut expenses that are not necessary and for things you can live without. Pay down your debts and call your credit card companies to negotiate lower interest rates, especially if you consistently meet the minimum payment requirements and make your payments on time. Open an emergency savings account. Create a plan and a timeline for your financial goals, including your retirement goals, and you will have a better chance of meeting them. If you get your finances in order by doing these things, you’ll have more money to put toward your retirement savings.

Consider Crowdfunded Real Estate

You can save for retirement by investing in real estate whether you have a large amount of money to get you started or not. Crowdfunding is a way to begin investing in real estate when you don’t have a lot of capital. You can add the money you have available to the money of other investors and all share the gains. Crowdfunding can be done with a Real Estate Investment Trust over the internet.

A Real Estate Investment Trust, or REIT, gives its investors a regular stream of income while diversifying their investments. The REIT usually has a management team with real estate experts who figure out how to invest this pooled money into real estate in ways that are not normally available to a single investor.

For example, a crowdfunded real estate investment company will spread the investments over several properties so the risk of losses is low while the potential for increases and liquidity is high.

Invest in Mutual Funds

Vanguard or Prudential are mutual fund companies you could choose to invest in for your future retirement. Bonds, stocks and other assets are a few of the ways investors can put their money into funds in a brokerage account in one of these companies. You can also choose to invest with a robo-advisor. Some of these offers the most popular Vanguard funds as “buckets” you can choose from when you set up your account.

If you are just getting started as an investor, you don’t have to have a ton of money. In fact, you can get started with only $500, and as the funds gain, the income can be reinvested to increase profits. There are sometimes losses too, but all gains and losses are shared among all of the investors. Of course, there are some fees, so ask about these so you know exactly how much you are paying for these services. In addition, if you have questions, you can ask a professional such as a financial planner.

Life is complicated, but investing doesn’t have to be. Using these 3 simple ways to start saving for retirement can help you meet your financial and retirement goals for the future.

Have you started saving for retirement? What’s holding you back?

Enjoy Plunged in Debt?

Pid

Subscribe to get our latest content by email.

Powered by ConvertKit

  1. I also like ETFs (Exchange Traded Funds) in leu of mutual funds… mainly because the carrying costs are so much lower. It can easily be a 1% annual difference in cost savings. Definitely worth looking into IMO.
    Brad, Financial Coach recently posted..Do you have what it takes to become debt free?My Profile

  2. Kelly says:

    I just started with my mutual funds. Though it’s a bit late for my age, I think it’s still good that I have now.
    Kelly recently posted..Is This The Best You’ve Got?My Profile

Comments are closed.