4 golden rules to prepare for your retirement
To complete your pension, consider saving young. Then adjust your strategy according to your personal situation.
1. Take control of your future:
It’s never too late to worry about retirement. The idea is to think about it at 40 years old. Twenty years are needed to build a worthy capital with a reasonable savings effort. Find out what you will really get. This is the first step.
Income Tips: For your retirement, the first step is to save. The younger you start, the less effort you have to make. Then think about adjusting your wealth strategy according to the situation and your personal situation.
2. Own your home:
In times of uncertainty, owning one’s home is reassuring: 58% of households own their main home. To repay a loan helps to build wealth because the monthly payments include a share of interest, but also capital. When you retire, you save the amount of rent which increases your purchasing power. The housing budget is “limited” to maintenance costs and local taxes. Be careful not to get into debt too much. Monthly payments must not exceed one-third of your income.
Revenue Tips: Buying a home is a strong commitment. For a young couple, it is often the first important heritage decision. Experts encourage their clients to invest in rental or leisure real estate before acquiring their principal residence. This is not the speech of Revenue. After examining the heritage of many readers, we affirm that, with some exceptions, the most successful ones are those who invest young in stone. To go off the beaten track is good. But you have to know how to stay classic.
3. Invest in life insurance:
An investment is that responds to a long-term logic. Premiums paid are capitalized over the years based on realized profits. Your savings remain available even for 2019 medicare advantage plans on www.medicareadvantage2019.org/ and if it is preferable, in tax terms, not to withdraw from your contract before eight years.
Income Tips: No other investment offers so much strength or freedom. You choose your level of risk and the terms of exit (withdrawal or annuity).
4. Do not forget rental real estate:
The share of households owning a dwelling that is not their main residence (second home or rental investment) is 18.5%: 80% of them own their homes. The purchase of a home for rent is financed for all or part on credit. By investing at age 45, you will have paid back the bank fifteen years later and the rents will then complete your retirement.