How to double the length of your retirement

When you reach 10 years before the time you’d like to retire, you may wonder if you’re doing enough to ensure you can live comfortably once you exit the workforce.

Having an investment account and saving for a decent nest egg are good places to start, but will the money be enough?

There’s an easy trick to making sure you don’t start retirement with too little a sum.

I’ll give you a hint, it has to do with investing, but it’s probably not what you think.

Here’s a simple way to double how long you can live comfortably in retirement.

Once you reach a certain age, people come squawking into your ear about retirement funds, 401ks, and whether or not Social Security will run out.

It can be annoying to worry about supporting yourself once you retire seeing as you’re still working, and probably wishing you could retire now.

There’s a simple way to start saving for retirement without taking too much time away from your daily activities.

First and foremost, if you haven’t created an investment account already, do it now!

By the time you reach 65, or hopefully sooner, you can multiply your original balance, and you won’t even have to do any trading!

Now that being said, beware trades that boast high profits. They are also often high-risk, and when it comes to your retirement money, you definitely don’t want all your eggs in one basket.

If you still have a couple years before you’re seriously considering retiring, then go for more profitable trades while being cautious.

To those reaching the few final years before exiting the workforce, let me assure you: be conservative.

You wouldn’t want to waste all the time and money that’s been going into your account by gambling it all away on the hope of some big bucks.

Experts recommend an easy way to know just how much of your money should be going towards investing in the stock market.

A simple trick is to subtract your age from 110. The resulting number is the percentage you should have towards high-dividend stocks (the ones that put the most money in your pocket).

Now, I promise I won’t ask what that magic number is but say for example you’re 70 years old. 110 – 70 = 40

At this point in your retirement savings, 40% should be allocated to stocks, and the other 60% towards investment-grade bonds.

Bonds that qualify in this category by definition carry minimal to low risk.

This strategy will almost guarantee that not only will your money be secured in the account, but it will be quietly growing while you focus on collecting your paychecks.

It can be difficult to calm yourself down and accept lower risk investments. They’re usually accompanied by modest profits, which aren’t as desirable as the huge dollar signs by larger, more risky securities that only work out once in a while.

That being said, if you secure your money with this advice, you can double how long your retirement fund will last.

This tip involves patience and trust, and I completely understand that both of which are difficult to hold onto when your hard-earned money is involved.

You can retire lavishly if you play your cards right.

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