While we all might want a pretty penny in our pockets right now, it might be more beneficial to start looking towards retirement to live the luxury life. Follow these guidelines and you could be on your way to settling down with a stash of silver (and hopefully gold) to satisfy your settle-down needs.
1. Avoid Retiring In These States
According to a study done by GOBankingRates, there are five states that have a high cost of living with low social security benefits that you should avoid if you want to retire rich. These states are Rhode Island, Vermont, Connecticut, Montana, and Nebraska.
2. Try To Continuously Increase Your Contributions
If each year, you can save an extra 1 or 2 percent more money for your retirement fund than you did the year prior, you will be able to maximize your savings by starting small and eventually growing your cash into a greater amount.
3. Start Early!
And if you can’t start early, start now! Almost 40% of Americans say they do not have sufficient money to pay their own bills currently, so make a budget plan for only the necessities and stick to it as soon as its created. The sooner you start saving, the quicker your retirement fund can rack up.
Follow this guide, and hopefully, retirement will be as east as 1,2,3.
