As Baby Boomers, we need to be smart about dealing with money after retirement. You may have a 401k or you’re trying to build your portfolio passively. There are always ways to make it work better for you. Below are some smart money strategies to help you manage and grow your income to get the most out of it.
How to grow your money after retirement
- The Motley Fool – I’ve followed the Fool for decades. It’s one of the best ways to learn about money online and they do it with a sense of humor. You’ll learn how to invest in stocks, how to optimize your retirement income, manage your money, purchase property, and get tax advice. You may want to download their 50-page guide to Social Security and get a 30-day free trial to Rule Your Retirement or click to find their Motley Fool’s Stock Picks
Managing your 401k
- Blooom – Give your 401k a checkup. Blooom (yes it’s spelled with 3 “o’s” ) offers a free analysis of your current employer-sponsored retirement plan if you are still working and shows you the best way to put it to work. You can also subscribe to receive 401k monitoring services for only $10 per month. Their mission is to be your Tonto in your retirement journey.
The Wall Street Journal writes,
“ One of the best online tools for retirement planning,”
Several employees at Linkedin, Amazon.com, Apple, Cisco, and Oracle have hired Blooom to help them with their finances.
In under 5 minutes, Blooom can do all the below:
- show you how you are invested
- pick the best funds available in your 401k and give you exact percentages of what to invest where
- show you exact percentages on how many stocks vs. bonds to have
- show how much you are paying in investment fees and how to potential pay less (average bloom client cuts costs by 44%)
Get the right mindset
- My friend Chellie Campbell has written several books to put your mind into the right vibration to receive and manage your money. She also runs an amazing Financial Stress Reduction® workshop and telecourse that I took years ago. Her books are entertaining as well as insightful.
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