Not many of us like to think about retirement. Sure, many of us are looking forward to being relieved of the burden of our jobs. But retiring at an old age doesn’t seem like the optimal way to do it! Still, retirement age is something many of us will have to deal with. Avoiding the issue can put you at a severe disadvantage in your later years.
It’s important that you don’t allow control of your pension to slip out of your hands. This is a mistake a lot of people make. They leave it up to other vague forces to deal with their retirement funds. And when the day comes where they need to collect the savings, they may find themselves filled with regret.
Your pension is something you can take a lot more control with than you may think. You should definitely be exploring these kinds of options so you don’t end up losing out later.
Read also the REAL costs of running a successful blog business, including saving for retirement here.
Your retirement fund is often managed in part by your employer. That can definitely make things a lot easier to deal with. But you shouldn’t just assume that the retirement plan your employer is providing is the best plan available to you.
You should get a grasp on just how many options you have when it comes to retirement plans. Often, the way employer-managed funds work out is that the best deal is calculated across an average of employee data. That means you might end up getting a worse deal than you’re entitled to.
One of the most common goals in retirement is to own property. For some, it’s because they want another asset to add to their portfolio. For most, however, it’s simply a case of finally getting to own a home. The problem with getting property at some point in the distant future is that prices could go up to astonishing levels by then.
That’s why a lot of people would prefer to have access to their retirement fund before retirement, in order to buy property now. But for most plans, this can be a problem. Early withdrawal of funds often come with heavy penalties, after all. You may want to consider getting in touch with Blueprint Wealth’s Self Managed Super Fund department. Buying or renting property with your fund may not be as difficult as you think.
The method of your payout
The largest ever disbursement most people will ever receive is their retirement payout. That is, if they choose to take it as a lump sum, which many do. In fact, the lump sum is what more and more people are looking forward to these days.
While there are many benefits to a lump sum payout, you should always explore your other options. In fact, it’s worth finding out now just how many payout options are available to you. Traditionally, people took monthly payments that would act as a steady income in retirement. This obviously allows for a lot of variance in payment amount and regularity. Make sure you know where you stand when it comes to the payout in your future.
I perfected a lot of my money strategies and routines after doing this course from my money mindset coach. She offers a ton of free content on her blog and website, from webinars to meditations to help you grow your income.She helps women release their fear of money, set premium prices for their services and take back control over their finances. You know that icky feeling in your belly when someone asks you to work for free? Or the baffling procrastination of sending out an invoice to a potential client? Or the fact that your income has stagnated… she’s here to help you break through! Learn more about her here.
Follow me & my blog:
Visit noni's profile on Pinterest.
Shop my current favorites:
seamless style="border: 0;">
Courses on free publicity and growing your biz and blog:
Most useful blog posts to grow your biz + blog
- The tools I use to run my 5-figure automated business and blog – networks, plugins, software, tools and hosting
- 10 Tiny service investments for your biz + blog that will help you grow massively (max $35)
- The ultimate guide to doing your own PR
- Automatically schedule your Pinterest pins with these 5 tools
- My top 7 automations that will help you get more done in less time
- Time-saving tips for busy entrepreneurs
- Why using Convertkit is the only way to grow your blog income in 2016
- How to use Convertkit as a PR tool to automate the heck out of your PR strategy
- 7 reasons why your PR efforts + strategy shouldn’t cost you money (+ FREE PR Checklist)
- 6 reasons why public relations are important (+ You should start PR ASAP)
- What is Leadpages + 5 ways to grow your blog or biz with it
- A list of 50+ recommended paid blogger networks to join
- Travellers life = why money matters and how to make more by clearing your money blocks (+ an introduction to my money coach)
- 7+ websites that will pay you for your photography
- Sell your clutter for cash: 10 best places to make money online
- The best online privacy tools for staying secure while traveling (and at home!)
- Travel apps every world traveller needs
- Latte & laptops –my favourite 5 work places with free wifi around the world
- Use these 9 Habits of highly productive people to stay productive while travelling
- My carry-on long-haul flight essentials
Most useful blog posts about money and building a passive income
| Travel Advice & Digital Nomad lifestyle |
Travel more with less money
Download your free guide by signing up. You'll immidiately receive your free guide!