Most people cannot afford to live off their benefits once they’ve reached retirement age.
In the past, many retirees looked forward to collecting their Social Security check because it signified a time in their life when all their hard work had paid off. However, gone are the days of being able to reasonably live off SS benefits alone. You’re going to need access to more money, especially if you have health issues that are worsening. One major illness is all it takes to deem a person destitute.
Here are some of the ways your belief in Social Security is holding you back:
- By providing you a false sense of security. If you’re planning on living off your social security benefits, you may want to think twice about it. No matter how long you’ve worked, the monthly check you’ll receive will only go so far. If prices inflate or the economy takes a turn for the worst, you’ll find it hard to make ends meet despite getting a regular check. The best time to invest in the future is now. Do what you need to do to protect your assets and to create a lifestyle that is convenient, healthy and happy for you.
- By making you want to retire earlier than you need to. If you’re in good physical and mental health, you’ll want to postpone retirement for as long as you can because it will allow you to add to your social security and your investment portfolios.You’ll have more money saved at 70 or 72 than you would at 65. You will also be able to pay down debt faster and accumulate more in social security benefits. It’s a win-win when you think about it.
- By keeping you from saving and investing now. There is no better time than today to get real about retirement. If you haven’t saved aggressively in the past, now is the time to step things up considerably. You’ll be able to diversify your portfolio with an advisor’s assistance and use the money that you have set aside for retirement in better ways. By investing in gold, silver and platinum, you’re safeguarding your assets and securing a foothold in your financial future. Best of all, you always know where the money is at because it is tangible and not in the form of liquid assets.
While it’s nice to pad your income with the benefits you spent years paying for, it’s unrealistic to think that they alone will help you pay for the lifestyle you’ve grown accustomed to living. Diversify your portfolio now so that you can live out your retirement years comfortably. Investing in precious metals is a great way to diversify your portfolio and get more bang for your buck. Now is the time to invest in precious metals.
Red Rock Secured has answers to your most difficult questions about protecting your investments. Contact us for more information. You can also download our free guide about investing in gold. You’ll find the guide and more information throughout our website.
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