Ensuring a comfortable retirement is no longer an ‘if’, but rather, ‘when’. It’s never too late to start planning ahead – regardless of age or current savings, you can still make sure that your golden years will shine bright! With careful budgeting and smart investments today, you’ll be ready to start living life without worry upon reaching that important milestone. If you own a home in Raleigh, here are some quick ways to boost your retirement fund.
401k and Roth IRA
Did you know that your employer may offer an amazing program which could effectively double the money saved in your 401(k)? You’ll want to make sure you are taking advantage of any matching contributions, up to a certain amount – it could be 50% or even 100%! By contributing as much as possible and participating in this great plan from your company, not only will you get free money but also save on taxes due: two wins with one action. So, take some time now and check what options are available for maximizing the benefits at work today.
Investing in a Roth IRA account is one of the best ways to prepare for retirement. It’s not always easy, but it will be worth it – because your hard-earned savings won’t be taxed when you retire! To get started, contribute as much into this account as possible; over 50? You’ve got even more incentive with catch-up contributions that can make an extra difference down the line. Make sure to maximize on these saving opportunities now so you’ll have plenty in store later too!
Pay Off Debt
Taking charge of your debt and paying off what you owe is a great way to help secure more savings for retirement! Rather than merely making the minimum payments on all of your accounts, consider one-time lump sum payments instead. This will not only allow you to pay less in interest over time but can also add thousands back into your retirement fund. Paying down debts each month is an excellent step towards financial freedom – plus it’ll give that credit score an extra boost too!
Take on a Second Job
Invest in your future with a second job and enjoy the reward of financial independence! Increase retirement savings quickly without reallocating income from current expenses. Imagine spending time doing what you love when it’s finally time to retire – taking luxurious vacations, traveling around the world or maybe even retiring before your planned date! With some extra effort now you can reap long-term rewards later in life.
Sell Your House
As a homeowner in Raleigh, now is the perfect time to plan for your financial future by downsizing and taking advantage of current low-interest rates. Selling your house can provide you with a large sum of money at once, while many buyers even cover fees so that you get to save more! You could also put thousands into an interest-bearing savings account immediately, saving on utility bills from having less space as well as reducing cleaning time requirements. Start retiring smarter today – explore all available options for securing and investing funds efficiently! You might be able to find a smaller, more energy-efficient home closer to your place of employment, saving you time and money on a daily basis!