3 Tips to Help You Remain Prepared Worried About Retirement Shortfalls?
When thinking about retirement, most people think of spending time with their loved ones, traveling, spoiling their grandchildren, not having the stress of work, and perhaps buying more property. But certain situations can interfere with your retirement plans, such as unexpected expenses, failing health, and investment losses. To ensure you will be able to accomplish everything you want in retirement, here are a few tips to fix retirement saving shortfalls. Leverage home equity. If you’ve been living in your home for a while, and it’s paid off or almost paid off, you can use that equity to supplement your retirement income. Your bank will give you a loan that is a portion of the value of your home’s equity. Since this is a loan, the money will need to be repaid at a later date. Another option is a home equity line of credit. This allows you to borrow any money you need and repay it only when you decide to spend it. You can also choose to take a reverse mortgage, which will enable you to access the value of your property. Limit fixed payments. Avoid expenses that cannot be paid off in a short period of time, such as significant mortgage payments or car payments. This doesn’t mean you need to cut off most of your monthly subscriptions like streaming platforms or subscription boxes, or even a few date night
dinners. These subscriptions won’t have as big of an impact as payments for a new car or new house. However, scaling down your housing expenses and planning how much money you want to have during retirement will make a big difference. Relocate your investments. Many Americans spend several decades in retirement, putting many retirees at risk of outliving their savings. On top of that, other shortfalls may occur, like stocks, bonds, and investments losing their value. To get ahead of these shortcomings, you may need to change where you invest your money. It can be tempting to place your money into an income-oriented investment, but you may have to deal with inflation. Instead, consider putting your earnings into a growth-oriented investment. You will never know when a shortfall may happen, but you can prepare yourself and your loved ones by planning out your retirement. If you have any questions about preparing for shortfalls and how you can save your money during retirement, allow your friends at DuPont Wealth Solutions to assist you. We will be happy to look at your income, expenses, and retirement goals and decide which avenues would be best for you and your needs.
SUDOKU
ONE-PAN BAKED SALMON AND VEGGIES
Inspired by BBCGoodFood.com
It’s asparagus season! Celebrate with this easy one-pan salmon dish for two.
INGREDIENTS
1 lb spring potatoes, halved 2 tbsp olive oil (divided) 8 asparagus spears, trimmed and halved
2 handfuls cherry tomatoes 1 tbsp balsamic vinegar
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2 5-oz salmon fillets 1 handful fresh basil
DIRECTIONS
1. Preheat the oven to 400 F. 2. In an oven-proof dish, combine the potatoes and 1 tbsp olive oil. Roast for 20 minutes. 3. Remove the dish from the oven and add the asparagus. Toss, and bake for 15 more minutes. 4. Remove the dish from the oven and add the cherry tomatoes. Toss. Drizzle with balsamic, then nestle the salmon fillets into the vegetables. Drizzle with the remaining oil, and bake for 10–15 minutes. 5. Remove the dish from the oven, garnish with basil leaves, and serve!
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