“Getting old is like climbing a mountain; you get a little out of breath, but the view is much better!”
– Ingrid Bergman
As we age, our perspective changes, as do our priorities. For example, money. When we’re younger, we’re all about spending. As we age, we drift toward preservation: having enough to maintain our lifestyle and enjoying all that life has to offer.
Wherever you find yourself in life, here are a few ideas that will help your golden years stay more golden.
1. Take care of your older self
Here’s hoping your retirement years are active, healthy and vibrant, and that you’re able to function as you always have, right up until the time you shuffle off this mortal coil.
But don’t bet on it. According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.
“But won’t Medicare take care of all that?” Nope. Medicare doesn't cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could mean near or total depletion of your nest egg.
Without long-term care insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.
One place to find long-term care insurance is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)
At least check it out and see if it’s a fit. Because planning now could mean a more secure tomorrow.
2. Stop losing up to $600 on your car insurance
How would you feel if you found out you’re throwing away $600 annually just to pad some insurance company’s bottom line?
It’s very possible. But there’s only one way to know for sure.
Take a minute and use this new insurance shopping tool from FinanceBuzz. It can tell if you’re overpaying for your car insurance with just a few clicks.
Savings will vary by driving history and how many discounts you’re eligible for, but don’t be surprised if you can find the same coverage for hundreds less. And if not? You’ll get peace of mind by knowing you’re already getting the best possible deal.
To find out if you’re losing up to $600 or more a year, just click this link, answer a few questions, enter your ZIP, email, and phone, and within two minutes you’ll see if you qualify for a lower rate.
3. Max out retirement contributions
Take advantage of catch-up contributions to retirement accounts such as 401(k)s and IRAs to put as much as possible in your retirement savings.
And if your retirement savings are starting to build up, maybe it’s time to at least talk to a professional and see if they can add value.
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 $100,000 or more 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, maximize your Social Security, help with estate planning and making sure you’re on the right track. They can also be there in case one day, you’re not.
Using SmartAsset only takes a few minutes, and in many cases you’ll be offered a free consultation.
Nothing to lose and lots to potentially gain. Take a minute and check it out right now!
Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
4. Stop letting your debt spiral out of control
Worrying about debt is probably the worst way you can spend your time, and paying interest and late fees is the worst way you can spend your money.
If you’ve got a problem, the sooner you deal with it, the better.
If you have over $20,000 of debt, National Debt Relief is one of the most respected providers of debt relief in the U.S.
They’ve helped more than 500,000 people, are A+ rated by the Better Business Bureau and also are top-rated by Top Consumer Reviews, Top Ten Reviews, ConsumersAdvocate.org and ConsumerAffairs.
You simply fill out a form on the company website, then a debt coach will call you to learn more about your situation. If they can help you, they’ll set you up with an affordable plan that works for you — and give you an estimate of when you can expect to be debt-free. There’s no upfront fee and no obligation to get started.
National Debt Relief can help you with almost any unsecured debt, like credit cards, personal loans, medical bills, repossessions … even some student loan debt. Ready to start a new, happier chapter of your life?
Don’t wait another minute. Check them out right now.
5. Diversify your savings with gold
One of the best ways to protect your savings is having money in different types of investments: ideally, ones that can go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.
One investment that thrives in this scenario: gold.
Keep in mind, though, that not everyone in the gold business is on the up-and-up. Be careful who you deal with.
Preserve Gold is a family-owned company committed to helping investors protect their wealth and retirement with physical precious metals. They offer gold, silver, platinum and palladium coins and bars delivered directly to your home. Plus, enjoy up to $25,000 in complimentary gold and silver, along with waived IRA storage fees for up to 5 years!
They also lead the industry in retirement account rollovers and will help to facilitate a transfer from your current custodian into a precious metals IRA.
Preserve Gold will beat any competitor’s price on gold and silver, and offers fast, free, insured shipping. And once you’re a client, they’ll buy back your metals and charge no fees.
Gold has been hitting record highs. Why not take a look right now?
6. Use this secret source for discounts
Since you’re over age 18, you’re eligible to save hundreds of dollars every year simply by joining AARP.
“What?” You say, “I thought AARP was for retired people.”
As it turns out, you don’t have to be 50 or older to join AARP. And members get discounts on hundreds of things, like:
- Up to $200 per person off flights
- Up to 30% off rental cars
- Up to 15% off restaurants
- Up to 20% off hotels
You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games, and tons of information, programs and resources.
Anyone trying to save money can’t afford not to join AARP, especially since the cost is as low as $12 per year with auto-renewal. You’ll likely recoup the cost in the first week. Click here and check it out.
7. Invest now for a stable monthly income for life
The clock is ticking. The government has said rates will start declining this year, and the interest on savings accounts and CDs is already starting to come down.
Now’s the time to lock in a high rate on your savings before it’s too late.
With a Gainbridge® SteadyPace™ annuity, you can lock in a guaranteed 5.50% APY — that’s four times higher than the national average CD rate!*
Not only does Gainbridge® SteadyPace™ provide higher returns, it allows for your savings to grow tax-deferred, making your money work harder for you.
Gainbridge® also offers the flexibility of free withdrawals of up to 10% in aggregate, beginning in the first contract year, with no hidden fees.**
Get started today and beat the banks at their own game! Click here for information about SteadyPace™ and lock in your 5.50% APY today.***
*Source: Bankrate.com, national average of 3-year CD, week of 12/28/23.
Rates subject to change.
**Withdrawals prior to age 59 ½ will be subject to a 10% federal tax penalty and if taken before maturity and above the 10% free withdrawal amount or MD may be subject to a withdrawal charge and a market value adjustment.
***Rates are subject to change at any time, and the rate mentioned may no longer be current. Please visit Gainbridge.io for current rates, full product disclosures and disclaimer. All guarantees are based on the claims-paying ability and financial strength of the issuing insurance company. SteadyPaceTM, a multi-year guaranteed annuity, is issued by Gainbridge Life Insurance Company in Zionsville, Indiana on form number ICC22-D-MYGA-BASE.
8. Get a will and/or trust
When you’re gone, your problems will be over. But the problems for the ones you leave behind will just be beginning.
Show your loved ones you care by creating a will, a trust or both. It doesn’t take much time and doesn’t cost much money. But it will save a ton of both for your family.
A will is a simple legal document that outlines how you want your assets to be distributed, and you can have one in minutes for $199.
A trust allows you to place conditions on how and when your assets are distributed to your beneficiaries. You can get one of these created for as little as $499.
An hour or two preparing these documents means providing for your family, minimizing potential conflicts, and potentially reducing estate taxes. Do yourself and your family a favor and at least check it out right now.
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