Here’s how much the average 60-year-old American has in retirement savings – how does your nest egg compare?
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Research from the Federal Reserve shows that a staggering one in four Americans (including 27% of those who consider themselves retired) have never saved anything at all.
And even if you have something hidden, that may not be enough – although it’s something you can change even late in the game.
A study by Vanguard found that people between the ages of 55 and 64 own an average of about $256,000. But this includes those with high incomes; Crunching the numbers, the amount narrows to an average of about $90,000.
It’s never too late to start putting cash aside, so here are four tips to secure your nest egg.
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Protect your nest eggs with a stable alternative
With the economy in such a volatile state amid rising inflation and stock market uncertainty, your 401(k) or IRA — and retirement itself — may be at risk. A Gold IRA is a great alternative for protecting and growing your nest egg. Unlike the US dollar, which has lost 87% of its purchasing power since 1971,The purchasing power of gold remains stable over time
A leader in the precious metals industry, it offers physical delivery of gold, silver, and platinum, as well as retirement accounts such as IRAs, 401Ks, and TSPs. They have an A+ rating from the Better Business Bureau and are three-time winners of the Inc. Gold Best Business Award. 5000. While inflation increases everyone’s expenses, precious metals won’t be affected — so a gold IRA might be the best thingPreserve your retirement
Diversify your portfolio
By mixing your portfolio with a variety of assets, you have a better chance of balancing risk and reward and securing your nest egg.
There are plenty of options available to diversify an investment portfolio, and commercial real estate is one of them.First National Real Estate Partners (FNRP)
* – Private Equity Firm – makes commercial real estate accessible to ordinary accredited investors through its online platform.
Because an FNRP is based on fundamentals, its assets remain stable during times of economic volatility and give you the opportunity to build a stable nest egg to support your retirement. All you have to do to get started is fill out some information about yourself, your income, and your investment goals, and you can do itStart growing your wealth
*. Read more: Unlock financial prosperity: Jeff Bezos shares the path to major profits through hassle-free real estate investing
— Don’t miss this opportunity to revolutionize your financial future
Make sure your loved ones are protected
No one ever feels ready to start thinking about life insurance. But the truth is that the younger you are when you purchase a policy, the lower your premiums will be. Your loved ones can use life insurance to cover outstanding debts, cover unexpected expenses, and pay for funeral costs. Think about the choiceLife insurance with SBLI Where you canProtect your family’s financial future with professional advice
*Simple online claims process and no medical examinations required for term insurance.
SBLI gives you access to LegacyShield, a streamlined dashboard where you can manage all of your financial accounts, store documents, and share final wishes, all in one convenient place for you and your family.
Talk to a professional about your financial situation
If you’re worried about your nest egg, finding a trusted financial advisor who knows your retirement goals inside and out can give you peace of mind. thereFree online services
*, for example, may pair you with a pre-selected advisor to match your financial needs. You don’t have to navigate your retirement savings alone, and you certainly don’t have to do it without themA vetted financial advisor is by your side
Once you’re matched, consult for free with no obligation.
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This article provides information only and should not be construed as advice. They are provided without warranty of any kind.