Imagine this: You’re sipping margaritas on a beach, finally retired and living the dream. Suddenly, the news blares: “recession!” Your heart skips a beat, visions of ramen noodles dancing in your head.
But hold on! Before you panic-sell your investments and stockpile canned goods, let’s talk recession-proofing.
We’ve got foolproof moves that’ll keep your retirement looking like a tropical vacation, even when the economy’s acting grumpy. So, grab another margarita, relax, and discover how to recession-proof your golden years like a pro.
1. Get a second set of expert eyes
To properly manage your money, work with a professional — it’s totally worth it. If you’re not doing this, you could be missing out on some serious financial gains.
A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!
If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisors in your area, all legally bound to work in your best interests.
Even if you don’t want help picking investments, an advisor can help lower your tax burden, create a comprehensive financial plan for you, maximize your Social Security, and serve as a second pair of eyes to make sure you’re on the right track.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free consultation.
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
2. Don’t put all your eggs in one basket
Investors with significant portions of their savings in the stock market know that what goes up can also go down. While we can’t control the market, many investors have hedged against uncertainty through diversification.
Gold has tended to perform well when stocks struggle, especially during inflation, rising interest rates, and political turmoil.
Augusta Precious Metals stands out in the gold business. Football legend Joe Montana endorses Augusta as the “best overall gold IRA company” and is its ambassador.
They boast an A+ rating from the Better Business Bureau, the 2024 Best Gold IRA Company designation from Money, the highest rating from TrustLink and a 5/5 rating from Consumer Affairs.
Getting started with Augusta Precious Metals is effortless:
- Request their free guide
- Book a complimentary call
- Open a self-directed IRA
- Fund your account (minimum $50,000) via transfer or rollover
- Select your preferred metals with incredible customer support
- Augusta handles purchase and secure storage
With Augusta, customers aren’t just diversifying – they’re securing peace of mind. They offer
everything from precious-metal IRAs to gold coins and bars. Plus, precious metals held in a pre-tax IRA will appreciate tax-deferred until you make qualified withdrawals.
Augusta not only offers a price guarantee on all coins, but you may qualify for up to 10 years of fees paid on your custodial and storage services, reimbursed with premium coins added to your
account.
If you ever thought about adding gold to your portfolio, why not take a look right now?
3. Invest in real estate for $10
Real estate has long been a path to wealth. But you need to be wealthy to get started, right?
Wrong. For as little as $10, Fundrise can get you started. Fundrise lets you buy into real estate properties the same way stocks let you buy into companies.
In effect, you’re a landlord without having to run background checks or serve eviction notices. While not a guarantee of future results, Fundrise investors have earned an average of 25% within three years; if they held on for five years, the increase was more than 50%.
People are always going to need a place to live — and recent rent jumps make real estate investing more profitable. Rent prices went up almost 17% in 2021, according to data from Harvard’s Joint Center for Housing Studies.
Take two minutes and check it out.
Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.
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