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Have You Already Planned Your Retirement Investment Strategy?

Retirement is meant to be the one time where you can sit back, relax, and not worry about work or any of the other stresses that have been a part of your everyday adult life. However, nothing can ruin the ‘golden years’ quite like having to worry about money. It’s best to have your retirement investments sorted out way before you actually plan to retire.

 

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Retirement is meant to be the one time where you can sit back, relax, and not worry about work or any of the other stresses that have been a part of your everyday adult life. However, nothing can ruin the ‘golden years’ quite like having to worry about money. It’s best to have your retirement investments sorted out way before you actually plan to retire.

If your retirement is fast approaching and you’ve realised that you may not have have saved the amount of money that you should have, is it still possible to save in the short term? While it is completely possible, it is way harder and much more of a financial stress on your shoulders. That’s why it is imperative to implement a plan as soon as possible into your full-time work years, and to stick to the plan as much as you can.

In our new ebook The Ultimate Blueprint for retirement finance, we look at retirement investment advice and other tips for making a great plan to save for your retirement:

The first chapter covers this four-step series for the ultimate retirement investment plan:

 

Start now

 

As with most plans in life, the best bit of advice is to get going right now. Retirement saving isn’t something that should be left to the last minute and the sooner you start the better. Whether you’re in your 20s or your 50s, you should start investing in property or annuities, or get the company scheme that they offer. The sooner you start, the easier it is to maximise your retirement income potential.

 

Choose a clear option or options

 

With all the options out there, it can often be intimidating for would-be investors to choose an option for their retirement investment plan. This, coupled with the current instability in the global market with regard to changing presidents in the US, and the yet to be felt repercussions of Brexit – it can be terrifying thinking about putting your precious money somewhere. The key to retirement saving is diversification, or not putting all your eggs into one basket. It is less risky to spread your investment over stocks, and real estate or bonds.

 

Get involved

 

If you feel like you don’t know anything about the nitty gritty of investment, and that’s what is putting you off, then the best thing to do is get educated. By getting involved and learning more about your investment options, you are more likely to make the correct choice and make retirement investments that will actually work out best for you.

 

Know how much you need to save

 

Gain a grip of how much your investments are going to pay out at a minimum when you retire. This way you can set a realistic goal of how much money you need to start putting away every month. Work out a clear figure on how much you will need to save for your retirement, as it gives you a set amount to work towards. The rule of thumb is that in retirement you will need around 80% of the income that you currently need now.

Download our guide The Ultimate Blueprint for Retirement Finance, to get great advice on everything you need to know about retirement investment, saving, and budgeting. If you are looking to diversify your investment portfolio, why not invest in real estate? Houses in Spain make a great investment option and offer extra income, as well as a wonderful place to retire. Check out our property for sale in Costa Blanca for the best real estate on this part of Spain’s Mediterranean coastline.

 

 

Image Credit: forbes.com

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