Many Americans are ill-prepared for retirement. Some confess that they have less than $1,000 saved. The rising cost of healthcare provides many concerns for retirees. On average they spend hundreds of thousands of dollars on out-of-pocket medical expenses. If you want to avoid spending through your savings too quickly, there are some things you should do. Consider this your short but focused guide on how to maintain your savings once you have accumulated wealth.

What’s Eating Your Retirement Savings?

The most common things that drain a retirement savings account fast are unexpected medical bills, a change in living arrangements, vacations out-of-state and out-of-country, and assisting adult children and grandchildren. Although it may be your wishes to take care of all of the above, the amount of money you’ve put away for retirement may be insufficient if you don’t plan accordingly. Seeking the advice of a professional adviser is the best way to make the most of the money that you’ve saved throughout the years.

How to Ensure That You Have Enough Saved for Retirement

Each person’s needs differ. You may be entirely comfortable living on less money than a family member or friend. Or, you may have an existing health condition that requires lots of money to treat. Either way, you’ll want to make sure that you have enough money saved to see you through all your days of retirement. After all, men and women are living longer these days and you may defy the odds by living to be 100!

Here are some of the things you can do to protect your investments:

Don’t put all of your eggs in a proverbial basket.

Your nest egg deserves protection. The more sources of income you have making you money while you work, the better. Your financial adviser will emphasize this point regularly. Instead of throwing all your savings into one type of investment, find multiple things to invest in so that your portfolio is padded and diverse.

Max out employee 401K accounts.

If your employer offered a retirement savings fund that they were willing to match, it’s important that you max out the investments by putting in the most money that you can each paycheck. For example, if the company you work for will match dollar for dollar for three to six percent of your income earned, do your part to make sure that you get every penny you can from them.

Start thinking about how you can create your ideal lifestyle now.

There are a number of considerations to make before retirement. The more you mentally prepare for the event, the better prepared you’ll be financially when the time comes for you to leave the workforce. Consider where you’ll live after retiring. Start pricing out housing or making arrangements with a family member to live with them while you have the time to iron out the details. It’s not a time to fly by the seat of your pants!

Learn more about what Red Rock Secured can do for you take back control of your retirement savings by getting your FREE GUIDE to investing with gold. Take advice from your financial adviser and continue to diversify your portfolio to maximize the money you make off your retirement savings. An investment in precious metals such as gold and silver has a lot to offer you by being a stable source of wealth in upcoming years.

REQUEST YOUR FREE GOLD IRA GUIDE by filling out the form above.

Don’t take a chance on your financial security.

So, you’ve taken great care to protect your retirement savings. You’ve enlisted the assistance of a trusted financial advisor, read a lot about the subject, and feel that you know a great deal when it comes to investing. Does that mean that your retirement fund is untouchable?

The answer is “No.” Unfortunately, many people trust their money and bank accounts to third parties without having a true idea of what the services provide for them. If you want to safeguard your savings, follow the list of ideas below for guidance.

Here are some ways to further protect your retirement savings:

• Hire a professional. After doing some extensive research into the different advisors available in your area, schedule time to meet with them for a consultation. This gives you the opportunity to get a feel for the voice on the phone by meeting the financial professional in person. Ask as many questions as time permits so you gain peace of mind knowing that you’ve made the right choice to hire the individual to help you manage your retirement savings. Asking a lawyer for legal advice pertaining to your fund may also be advantageous. You’ll know what you are allowed to do with your money and how to make it work best for you.
• Diversify your portfolio. You know the saying, “Don’t put all of your eggs in one basket?” It’s wise not to put all of your retirement savings into one thing. That’s why a financial advisor is essential. They help give you ideas as to how to invest your money and diversify your portfolio. Doing so ensures that you’ll have money coming in with all the different investments that you’ve made.
• Don’t bank all your successes on the stock market. If you take hits financially before you retire and need to sell off your stocks, you could be left shorthanded when it comes to retirement. Again, this is where diversifying your portfolio comes in. Having some stock options is valuable. Investing everything you’ve got into the stock market, however, can be volatile.
• Invest in precious metals. Red Rock Secured provides you with the option to invest your finances in gold, silver, and other precious metals. We even offer home delivery services so you don’t need to come to us to retrieve your coins or bullion. Our tax free, penalty free IRA transfer is something that many retirees see value in. We don’t require you to pay startup fees and we insure shipping to ensure that your gold and silver arrive to you without any issue.

Do your part to protect the money that you’ve saved. By exercising extra caution and employing the tips listed above, you’ll have more than plenty of money saved by the time you’ve reached retirement age. Red Rock Secured makes it easy for you to protect your retirement savings!

Safety and security as you age are priorities. Take advantage of your health and well-being currently by investing in your future today. It’s one of the best ways to take care of yourself and your family as you reach the retirement stage of life.

REQUEST YOUR FREE GOLD IRA GUIDE by filling out the form above.

Financial security is about more than good luck. In fact, it is about more than a good salary too. Sure, these things can help, but the number one way to create secure and lasting wealth is by managing your existing income and savings wisely. If you want to build a brighter future for yourself and your children, then these tips can help.  

1. Saving. Having savings on hand can help get you through life’s most challenging moments with greater ease. Taking time off work because you are sick, moving to a new city, or sending the kids to a private school are all good examples of this. Even though these things could all be accomplished with credit cards and personal loans, for example, your life will be a lot easier without taking on extra debt and stress. So putting money away for a rainy day is a must.
2. Investing. In addition to saving cash, it’s also a good idea to invest cash in ways that will grow your wealth over time. The word investment might make you think about the stock market. (And stocks and bonds aren’t by any means a bad idea as long as you do your homework.) But an investment can be anything that grows in value: purchasing a home, pursuing an advanced education, and buying precious metals are all ways to invest.
3. Reducing expenses. Many wealthy people are surprisingly frugal, and this isn´t a coincidence. Finding better deals, avoiding impulse purchases, and even negotiating prices on larger expenses can add up big time. And that money, invested and grown over a lifetime, can make a real difference in your bank account.
4. Taking Care of Yourself. Eating right, exercising, getting enough sleep, and staying up to date on your doctor’s appointments will save you thousands in medical expenses down the road, while also allowing you to live a happier and more productive life along the way. No wonder there is a strong statistical correlation between health and wealth!

Looking to build financial security for yourself and your family? There are many reasons to consider investing in gold: visit Red Rock Secured online to learn more!

REQUEST YOUR FREE GOLD IRA GUIDE by filling out the form above.