“Retirement feels so far away so I don’t need to think about it”. Sound familiar? It is for 1 in 3 Americans.
The earlier you start saving, the better chance you have of getting that quintessential retirement experience – exotic travel, luxury cars and a big house with a rocking chair.
But if you start saving in five years compared to today it could leave you $500,000 worse off. That’s 500,000 reasons to start saving immediately.
We’ve got some simple strategies to help you retire a millionaire quicker than you thought possible.
1. Check your 401(k) health
Have you checked to see how your 401(k) is actually doing? Trying to check is a nightmare – it’s impossible to get a straightforward answer.
You can make understanding, monitoring and optimizing your 401(k) simple using an SEC-registered robo-advisor like Blooom. It’s investment advisory firm run robo-advisor – that means some smart people and algorithms are maximizing your 401(k)’s performance to set you up for a cushy retirement.
Take 5 minutes and get a free 401(k) health checkup. Learn how your 401(k) is performing, your fees and value projections from now to retirement.
2. Score a pay raise
Ok, so your boss probably isn’t handing raises right now. The next best thing is to pick up a side hustle.
A work from home office favorite is InboxDollars. It’s an online market research panel that will pay you for each survey completed. They also have a ton of other activities like sampling products and watching movies. Perfect to do at home.
3. Cancel unused subscriptions and reoccurring expenses
Saving money is difficult when you’re racking up unnecessary bills. If you don’t keep keep an eye on your bank statement, it’s easy to pay for services you forgot to cancel after the “free trial”.
4. Drive down the cost of your car
It costs around $8,500 a year to own a car with up insurance costing up to$3,000 alone.
If you feel like saving some serious money, shop around for a better insurance policy. If you haven’t compared policies in the last 12 months there’s a good chance you’re paying too much.
Using a free comparison service like Quote Genius is the easiest (and fastest) way to get in touch with a local insurance agent who could save you hundreds.
Get quotes multiple insurance providers instantly based on your personal circumstances then switch right then to save. I was able to save $150 a month when I tried it.
Need an answer quickly? Check here
Check your retirement fund’s health – Blooom
Start an easy second income – InboxDollars
Find and cut wasteful expenses instantly – Trim
Stop getting ripped off and get cheaper car insurance – Quote Genius