• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Apply Now
    • Qualifications
    • Is This Right For Me?
  • Proven Results
    • Debt Relief Benefits
    • Credit Card Debt Relief
  • Debt Relief
  • Credit Card Debt Relief
  • Debt Consolidation
  • Login
HomeBlog RetirementImportant Tips Before Investing In Retirement
Video Transcript

Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

Important Tips Before Investing In Retirement

June 10, 2015 by National Debt Relief

money plant being wateredInvesting in retirement may just be the strategy that will help you retire earlier than expected. We all dream of having a good retirement. After years of toiling in our chosen career, we deserve to retire in peace and comfort. But thanks to the Great Recession, a lot of us are questioning our ability to retire immediately.

Pre-retirees are convinced that they have to retire at a later date. Some are resigned to keep on working until they drop. There are two reasons why a lot of incoming retirees are choosing these retirement lifestyles. The first is the fact that they have a lot of debts to pay off. You have mortgages, credit cards, and even car loans. These weigh heavily on people who are about to retire. They cannot give up their regular income because of the payments they have to sustain for the next couple of years. The other reason why there is a delay or no retirement at all is the fact that people failed to save enough. Whether they started late saving or they used up their retirement plan, the fact remains that a lot of retirees have less than what they need to retire comfortably.

According to StatisticBrain.com, the average length of retirement is 18 years. That means if you need $3,000 to live comfortably each month, you need at least $648,000 so your funds will outlive you. The same site reveals that the average savings of 50 year old pre-retirees amount to $42,797. If they wish to reach more than $600,000, they need to put aside more than $3,000 each month for the next 15 years. That seems like an impossible feat right?

So what can you do to be able to retire on time with insufficient retirement funds? You may want to consider investing in retirement. You need to start thinking about how you will invest the existing funds that you have in order to make them grow at a faster rate. We all know that investing in stocks, bonds, mutual funds and similar accounts will give you a higher percentage increase.

Before you invest your retirement money…

There are so many options to invest while you are retired. It is advisable that you consult an expert or hire a professional to handle your portfolio for you. But before you proceed, you also need to check some things about your finances. Although investing in retirement will allow you to grow your money at a faster rate, you are putting your money at risk. You need to weigh the gains with the risk that you will take to get it.

Of course, investing rules are a bit different when you reach your 60s. Here are a couple of things that you need to think about before you invest your retirement money.

  • Have a target amount. You are investing to earn more money so it will outlive you. That means you have to know how much your savings should last. It will give you an idea how much money you need to add to your retirement funds. When you have a target amount, it should be easier to come up with a strategy that will help you reach your goal.
  • Know yourself. In connection with the first, you need to get to know yourself thoroughly so you will know how much you need to target. Find out the life expectancy of those in your family. Not only that, you need to be aware of any health concerns that you may also have in retirement. This will help you gauge the expenses that you will be facing. If you have a lot of health issues, you need to rely more on investing in retirement to increase your funds.
  • Compute your annual expenses. Once you understand your history and what you could be facing in the future, you should be able to compute how much you need to spend each year (or month). If you know that your health costs will be high, you need to start thinking about changes in your lifestyle to prepare for what you need. You can downsize your lifestyle so your expenses will be lower. Taking control of your expense will allow you to identify where you can cut back so you can reach your investment goals more effectively.
  • Make sure your emergency fund is intact. It is up to you how much you want to put into your investment. However, you need to ensure that your emergency fund is intact – at the very least. This is especially true if you are investing in stocks. In case you need immediate cash and the stocks are low, you will be forced to withdraw and suffer losses. If you have your emergency fund on hand and not invested, the rise and fall of stock value will not matter.
  • Consider carefully where you will invest. Investing in retirement should be done carefully because it will be hard to replace since you no longer have a regular income. That means you need to be careful about where you will invest your money. Stocks will give you the best opportunity for monetary growth but it is also risky. Bonds will give you less risk but the growth is not as much. Find a balance and diversify your investments. That way, if you lose in one account, it will not affect your whole fund.

In case you think your investment returns will not be enough, you may want to think about earning from other sources of retirement income. You can get a part time job or you can capitalize on a hobby that you have. That way, you can remove some of the stress that you have regarding your retirement money.

Investing tips from experts that retirees can ponder on

If you want to grow your personal wealth, investing is proven to be an effective means to do that. It really helps to find experts who can explain things to you. But you can also do your own research so that you can be aware of what investing in retirement entails.

The best way to learn is to look at successful investors in society – past and present. One of them, Warren Buffett gave an advice through an article published in USNews.com. He said that investors should put 10% of their cash in short-term bonds while 90% should be placed in low-cost S&P 500 index fund. Of course, applying this in your investment strategy will depend on your goals. You need to exercise caution when determining the advice that you will follow.

Here are other quotes and tips that could help you make certain decisions about investing.

  • The stock market is filled with individuals who know the price of everything, but the value of nothing. – Phillip Fisher. This implies the significance of research and knowing what investing is all about.
  • The individual investor should act consistently as an investor and not as a spectator. – Ben Graham. This is similar to the first. It is important to observe the market because that is where you take your cues when it comes to your investment decisions. Be sure to rely on facts – not speculations.
  • Every once in a while, the market does something so stupid it takes your breath away. – Jim Cramer. In other words, investing is all about taking risks. You need to be ready for this.
  • Investing should be more like watching paint dry or watching grass grow. – Paul Samuelson. The growth that you will get from investing in retirement is not something that will happen overnight. You need to be patient about it.
  • In investing, what is comfortable is rarely profitable. – Robert Arnott. In investing, you need to realize that you need to take risks to earn more. But despite that, you need to take cautious risks to protect your retirement money.
  • Be fearful when others are greedy. Be greedy when others are fearful. – Warren Buffett. When the market is down, Warren Buffett is saying that you need to buy more stocks. You can purchase more with the money that you have. But when the market is soaring, you need to sell. That is how you can profit from your investment.

Take into careful consideration these tips that come from experts. Investing in retirement can be very profitable as long as you know what you are doing.

Do you qualify for debt consolidation?

National Debt Relief
National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

Follow National Debt Relief: Facebook Twitter Instagram Linkedin

Primary Sidebar

Consolidate Your Debt!
Find out how NDR could help.
  • Get one low monthly payment
  • Avoid bankruptcy
  • Get out of debt in 24-48 months
Get Your Free evaluation
Free Debt Consolidation Quote
By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
 Trusted By Our Clients

"..."

Easy National Debt Relief Caller: April Transcribed WE 1/17/2021 April: Our call may get recorded. What financial concerns had led you to seek out National Debt Relief's services? RILEY: I guess just not being able to pay my debt. April: What had you choose National Debt Relief over other companies that provide the same service? RILEY: Really just researching online. Everything that I had read about them seemed pretty positive. April: What service or program did National Debt Relief help you to get through? Like a payment or consolidation program, anything like that? RILEY: I just do bi-monthly payment to them, and then they reach out to my debt account, I guess, that negotiated everything for me. So, it’s pretty easy. April: Can you walk me through the process of what you went through to enroll for the services? RILEY: God, it's been like two years, so I kinda don't really remember. I just had to fill out some stuff online and then talk to them on the phone. I had to give them all my account information and everything. And then they worked out a payment plan for me. And they communicate with me like once a month with my statement. And whenever they have communication with my accounts, they have called me and had me verify before they've done anything and whatnot. April: That sounds like a really good service there. RILEY: Yeah. April: At this point, are you still in the program or have you completed it at this point? RILEY: I'm almost done. It was, I think, a two-year plan. So, yeah, I think I just have one other account that I'm paying on. April: How about any interactions with the negotiators? You said they will call you at any time that there was maybe an account activity that they want to confirm with you first. RILEY: Uh-huh [yes]. April: So, how is the interaction with them when they reach out to you and you're able to discuss with them? How is that interaction? RILEY: It's been super easy and positive for me and relieves a lot of stress and anxiety. So, yeah, it’s been very easy. April: And then how has National Debt Relief been able to work with you in terms of your payment plan? RILEY: I basically just told them what I could afford, and they figured it out. And they have offered COVID relief if I need to stop payment for the time being or whatever. Fortunately, I haven't had to do that. So, I don't really know how that would have worked, but that was an option. But they're always like, “Call us if you can't make payment, and we'll figure something out for you.” April: What are your thoughts about the cost in relation to the quality of the service you received? RILEY: I'm really happy with the program. [unclear 0:04:22] as far as I know. I don't have any complaints. April: Has working with National Debt Relief impacted your life? RILEY: Yeah. April: How would you say that it's impacted your life at this point? RILEY: It just has relieved a ton of pressure and stress, financial stress, anxiety. I'm not living paycheck to paycheck now to pay my interest, so that’s been nice. April: Have you had other experiences to National Debt Relief that perhaps you want to share with us in regards to your experience with them? RILEY: No. I think that’s it. April: On a scale of 1 to 5, where would you rate National Debt Relief, if 5 stars is that you recommend to your friends and 1 star is you're very dissatisfied? RILEY: I would say 5. April: In a few words, how would you summarize overall the National Debt Relief in your experience with them? RILEY: Just easy and stress-free. April: Would it be okay for us to also utilize your commentary as a review that we can publish for National Debt Relief? And that would go to public webpage here, but that's to help other consumers make good choices if they're also in the same market. RILEY: I guess. Would it have my first and last name? I don’t— April: Only the first name. And if that's an issue, we do the first letter. RILEY: [unclear 0:06:03] you want my full name. April: Not at all. So, we only do the first name as an option. We can also do the first letter. So, it's really up to you on which option you prefer. But just the first name. We don't do last name. We don't post anything personal like your phone number. RILEY: Yeah. I think you can use my first name. April: I do offer a link that we can also send you with a direct link to your review. So, once it's published, you also get to see directly. Is that something you would like to have sent to your email? RILEY: No.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Riley Barker
ConsumerAffairs Reviews

Latest Retirement Posts

  • What Should Your Retirement Savings Look Like Right Now?
  • Money Management Tips For Your Retirement
  • How To Have A Happy Retirement While Living On Social Security Alone
  • Is It Smart To Use Retirement Money For College?
  • Should I Use My 401K to Pay Off Debt?
National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Consumers Advocate Trust Pilot
Company
  • About Us
  • Contact Us
  • Blog
  • Careers
  • Corporate
  • Privacy Policies
  • Terms Of Site
  • Disclaimer
  • Sitemap
Products
  • Debt Relief
  • Credit Card Debt Relief
  • Debt Consolidation
  • Debt Settlement
  • Calculators
  • FAQs
Debt Resources
  • Credit Card Debt
  • Medical Debt
  • Personal Loan Debt
  • Unemployment
  • Divorce Debt
  • Retiree Debt
  • Veteran Debt
  • Business Debt
  • Personal Finance
Follow Us
  • Facebook
  • Twitter
  • Linkedin
  • Instagram
  • Pinterest

© 2021, National Debt Relief, All Rights Reserved.

Disclaimer
Disclaimer
Disclaimer