Learn How to Keep the Money Flowing Diversifying Income Streams in Retirement
Retirement is often envisioned as a time of leisure and relaxation, but the financial aspect of it can be anything but relaxing. With the absence of a regular paycheck, many retirees worry about outliving their savings. However, there are various ways to maintain a steady income during your golden years. Let’s explore five effective strategies for diversifying your income streams in retirement. ANNUITIES: A GUARANTEED INCOME Annuities are financial products that provide a guaranteed income for a specified period or for life. You make an initial investment, and in return, you receive regular payments. Annuities can be an excellent way to ensure you have a steady income, especially if you’re concerned about market volatility affecting your investments. DIVIDEND-PAYING STOCKS: A LONG-TERM STRATEGY Investing in dividend-paying stocks can be another smart move for retirees. These stocks pay you a portion of the company’s earnings regularly, usually on a quarterly basis. The advantage of dividend- paying stocks is that they offer the potential for both income and capital appreciation. However, it’s essential to diversify and not rely solely on dividends, as companies can cut or eliminate them.
REAL ESTATE: PASSIVE INCOME POTENTIAL Owning rental properties can provide a consistent income stream. Real estate often appreciates over time, offering the potential for both rental income and capital gains. However, being a landlord comes with responsibilities like property maintenance and tenant management. If you’d rather not deal with these issues, Real Estate Investment Trusts (REITs) can be an alternative, allowing you to invest in real estate without owning and managing properties. PART-TIME WORK: SKILLS TO CASH Many retirees find that part-time work not only supplements their income but also keeps them engaged and fulfilled. Whether it’s consulting in your field of expertise, teaching a class, or even starting a small business, your skills and experience are valuable assets that can continue to generate income. BONDS: LOWER RISK, STEADY INCOME Bonds are generally considered lower-risk investments that pay interest over a fixed period. While the returns may be lower compared to stocks, they can provide a steady income stream and are less susceptible to market volatility. Treasury bonds, municipal bonds, and corporate bonds are some of the options to consider.
SUDOKU
CHICKEN, LEEK, AND BLUE CHEESE PILAF
Inspired by BBCGoodFood.com
Did someone say, “Healthy chicken with tangy blue cheese”? We thought so!
INGREDIENTS
2 1/2 cups water
1 leek, thinly sliced
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1/2 cup brown basmati rice 2 tsp vegetable bouillon powder
2 zucchini, thinly sliced
1 cup frozen peas
1 bay leaf
4 walnut halves, broken
1 tsp grapeseed oil
1/4 cup crumbled Gorgonzola cheese
2 skinless chicken breasts, chopped
DIRECTIONS
1. In a large pot, add water, rice, bouillon powder, and bay leaf. Cover, bring to a boil, then reduce the heat and simmer for 20 minutes. 2. Meanwhile, in a large frying pan, heat oil and stir-fry chicken over medium- high heat until just cooked. Remove from pan, then fry leek until soft. Add zucchini, stir-fry for a few minutes more, then add peas. 3. When the rice is cooked, add it and any liquid from the pot to the vegetables. Return chicken to the pan, then cover and cook for 5 minutes more. Stir in walnuts and cheese and serve hot.
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