The prospect of retirement should be pleasant, not stressful. One big source of stress is not knowing if you will have enough money to live on comfortably once you retire. Keep socking away your money so you can enjoy life later on. Here are some smart investments that can give you a positive rate of return.
Make $$$ on Side
In addition to your regular salary job, make money on the side for retirement investments. Get creative. Do something you can handle from home, and that doesn’t take up a lot of your time. Start up a YouTube Channel and monetize your ads by posting them alongside your video for an amazing revenue opportunity. Check it outhere. You could also start up a blog and join an affiliate program to receive a monthly residual income. Blog about it and make extra cash with companies like http://www.cj.com/&http://www.avangate.com/affiliates/. These each have more than 10,000 programs for which you can do some reselling. You could also head to UserTesting online, which will pay you to evaluate how well you can navigate certain websites. You have the potential to earn $10 for about 20 minutes of work.
Asset allocation is a key part to any of your portfolios. Your portfolio should have a pretty even balance of stocks, bonds, and cash, which can all head in varying directions. Asset allocation allows you to reduce your downside risk while taking advantage of much-needed portfolio growth, says The Motley Fool. You can get guidance from your stock broker or financial planner, making sureyouadd a certain percentage to each depending on your long-term goals. Ask them what that percentage should be. Re-align your portfolio with your changing needs and goals over the years.Just be sure to know the name of an securities fraud lawyer who can help you if your broker mishandles your accounts.
Put the Most You Can IntoYour 401(k)
By taking advantage of your employer’s contributions into your 401(k), you’re essentially getting free money towards your retirement. This can be a safe, steady way to build up your retirement fund, so be sure to increase your contributions to the maximum limit. Try to save 10 percent of your salary, but always sock away any extra windfalls you receive into your retirement account.For example, you can save just $300 a month from the age of 25 at a rate of eight percent and enjoy a $1 million nest egg at retirement, saysUS News and World Report.If you wait 10 years later to start, you’ll only get $440,000 by age 65.
Making smart decisions with your investments starts with being educated. Remember, Thomas Law Group has experience in recovering losses for investors, helping thousands of people recover from stock fraud cases.