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How To Retire Like A Millionaire On A Salary Of $75K/Year Or Less

Hina Adnan
January 24, 2018
Some of the links in this post are from our sponsors, and we might earn a commission if you click on one. We are letting you know because, as our grandmother taught us, an honest penny is better than a stolen dollar. Now, back to filling up your piggy banks.

Retirement feels far away when you are young. But before you know it you are 50 and don’t have any savings.

If you’re not saving enough, don’t stress! Follow these tips to ensure you’re stashing plenty away for retirement without breaking a sweat.

1. Make Money To Save Money

Let’s be honest – if you’re reading this, you’re really just looking for a good way to make and save some decent money. Your best bet to making money is going to be InboxDollars.

They’re a market research company that’ll pay you top dollar for every survey you complete (up to $25 each) and lets you cash out quickly. Perfect if you need money fast.

Start earning with InboxDollars HERE

2. Save On Everyday Expenses- Now

Some expenses cant be avoided like food-however, it’s entirely possible to cut your grocery bill in a big way and it all comes down to our new favorite app Ibotta.

Simply download the app, and grocery shop as you normally would at stores like Target, Walmart, Rite Aid, and Costco etc. Then upload your receipt, and the app will look for cash back offers for what you bought.

Ibotta’s cash back offers really are for food you would be buying anyway, a massive list that includes things like Stonyfield organic yogurt, MaraNatha almond butter, Nutella, the list goes on and on.

Sign-up for Ibotta right now and you’ll immediately have $10 in your account! 

Walmart has nearly double the Ibotta cash back offers as any other store. Your next best options are Target and Kroger.

3. Save Like The Rich

Would’nt it be great if you could save like the rich? MoneyLion is making financial tools that are usually only available to people with big bank balances, available to everyone. The app allows you to easily track your credit score and it will send you alerts so you can avoid late fees or overdraft fees from your credit card issuers and bank, like your personal banker.

Our favorite feature? You can earn free gift cards to places like Amazon and Zappos just for completing different tasks on the app like adding a profile photo and linking your bank account.

Since launching, MoneyLion Plus members have seen over $1 million in savings. It works. Via MoneyLion Plus, you can start investing in the stock market with as little as $50 and get approval for personal loans from between $1,000 to $35,000 on the same day. 70% of their users are seeing credit scores improve as they use MoneyLion Plus.

Give MoneyLion a try and get $10 when you join MoneyLion Plus along with a personalized investment plan!

 Sign up now.

6 Pieces Of Money Advice To Take From Your Grandparents

4. Make The Best Use Of Your Time

Some people say surveys are time-consuming. If you don’t have much free time but still want to make extra money, Ipsos i-Say is a good option.

They send activities less frequently but these are always the highest paying surveys. It’s a good option if you value your time and would rather take higher paying surveys less regularly.

They pay out in gift cards to every popular store (Amazon, Walmart, Target, Apple etc) so covering your everyday spending is possible.

Make some quick cash with Ipsos HERE.

 5. Reduce Unnecessary Expenses

Bill cutting is something we all want to look into but never have the time to.

In comes Truebill, whose goal is to lower your bills. Period. Sign-up for Truebill and either log-in or snap a photo of your bill and Truebill’s negotiators will get to work finding hidden discounts and promo rates you would never have been aware of otherwise.

There’s zero risk to see if Truebill can get your bills lowered because you only pay if they are successful. Customers have attested to saving hundreds of dollars a year thanks to Truebill.

Cut your phone, internet and cable bills with Truebill now.

6. Get A Free 401(K) Analysis (Then Put Retirement Savings On Auto-Drive)

Have you checked to see how your 401(k) is 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 Blooom. At Blooom some smart people and algorithms will maximize your 401(k) to set you up for a cushy retirement – and save you a ton on adviser fees ($41,456 savings on average[1]). 

The process takes a mere 5 minutes.

Get a free 401(k) analysis and put your retirement on auto-drive HERE.

7. Start Investing Now

Investing now for retirement is a great plan. Don’t have big buck to invest, no worries-you can begin investing with as little as $5 with the Stash app.

Stash allows you to buy fractional shares of Exchange-Traded Funds (ETFs). An ETF is like investing in an industry rather than individual companies – it’s less risky and easier to understand than individual stocks. There are over 40 investment themes to choose from depending on your risk tolerance and social beliefs. To sweeten the deal, new users can get $5 in free stock using this link.

Invest your first $5 with Stash.

8. Automate your savings

One of the parts of saving money that makes it so painful is thinking about it all of the time. People who are great savers will be the first to say they do it by turning saving into a necessary expense (in other words, saving $300 a month, no matter what).

It’s easier said than done though for some people to save money, which is where Digit comes in. The app will automatically pull small amounts from your checking account throughout the month so you won’t even miss the money. According to Forbes, the average Digit user saves between $80 to $170 a month. 

This is truly the easiest way to save, try Digit now!

9. Save On Those Excessive Banking Fees

If you hold a checking or saving account with any bank, you must know how those minimum fees, transaction costs and overdraft fees can add up.

Do your wallet a major favor and save that extra fee money with Chime.

With Chime you get a  Chime Visa Debit Card a spending account and an optional saving account, managed perfectly by this amazing mobile banking app.

There are no overdraft fees. No minimum balance requirement. No monthly service fees. No foreign transaction fees. No transfer fees and over 30,000 fee-free MoneyPass ATMs.

It gets even better, with Chime you can get your pay check up to two days early.

 

Need an answer quickly? Check here

Save a ton on advisory fees on your retirement account – Blooom
Make money to save money –  InboxDollars
Take advantage of high paying surveys- Ipsos i-Say
Save like the rich – MoneyLion
Save on banking fee – Chime
Reduce your cable and internet bills in minutes – Truebill
Save on everyday expenses – Ibotta
Start investing now – Stash
Automate you savings – Digit

[1] *$41,456 investment fee savings based on median blooom client 401(k) balance of $47,131 assuming $5,000 annual contribution, pre-blooom investment expense ratio of .56%, post-blooom investment expense ratio of .22%, and 30 years until retirement as of January 9, 2018. Blooom is limited to the funds available in your employer-sponsored retirement account. There is no guarantee blooom can or will reduce your fund expenses.

 

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