If you are smart, money can last forever
Money is a hot topic for most these days. With the rising retirement age and the cost of living skyrocketing, retirement is a dream they simply cannot afford. A recent government study found 48% of older American households had nothing saved for retirement, relying solely on social security to get by. That is totally impractical in this day and age. One is better to make money and make it last. If you want to have a comfortable life, then you need to start saving early. You should not wait a few years down the road. You should do it now. The earlier you start, the bigger your nest egg will be. If you are ready to learn how to better your financial health, then read on to learn how you can make a windfall into a waterfall with these great tips.
Save any amount of money you can
A common complaint from financial procrastinators is that they have no money to save. In reality, this is a lie. Even if you save one dollar or even ten cents a week, you are still saving and building towards a higher goal of financial freedom in your older years. Look at how much you are spending on junk and save that money instead. Some people say life is short so be happy and buy junk you don’t need, but this is simply not true. Life is a long journey and if you don’t want to work until death, then you need to change your ways.
Invest your money, don’t cash out that 401K
A common trend that we have seen is people who spend their 401k when they leave a job. A pointless shopping spree and $2000 less for your retirement are all you get from your folly. Take that money and invest it in a business, bonds, or roll it over into another 401k. If you like taking risks and spending all your savings, then why not put the money into an aggressive high-risk fund. You might need to ask yourself, “What is a qualified retirement plan and will it work for me.” Find out the answer and see some future growth on that $2000 you were going to spend on a television set.
Get a low-stress side job
The money you have now is only going to go so far, so why not get a side hustle? Uber can bring in $2000 a month in the right town or you could turn to online work for some extra cash like getting paid to watch adverts or teach English to Chinese students. You don’t have to kill yourself to earn a few extra bucks.
Make money from advertising
There are lots of ways to make money from advertising and you can even make money solely from watching advertisements. These jobs do not pay a lot, but the work is abundant and is a great way of making more money to save. Other marketing jobs include SEO or search engine optimization which takes keywords and places them strategically in articles in the hopes of seeing your website or information show up higher in search engines.
Moreover, if you are a fan of YouTube, this can be a profitable way of making extra income. YouTubers make the majority of their money from advertisements and PPC or pay per click. Every time a visitor clicks on an advertisement running on the YouTuber’s page, that creator gets a few cents for bringing traffic to another person’s website. On average, the top YouTubers make $10-22 million dollars a year. With determination, you can make a lot of money from online advertising and easily save a nice sized nest egg for your future.
Other ways to make a buck
There are lots of other ways to earn money to save for a lifetime such as the following:
– Buy into a business or franchise
– Sell things online
– Put your money into high yield accounts
If you are not sure where to begin, why not book a consultation with a retirement specialist today.
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