Get expert financial advice
According to the Federal Reserve, only 36% of non-retirees thought their retirement savings were on track as of 2021. If you feel you could use some help getting your finances back on track, consider reaching out to a financial advisor. With Vanguard, you can connect with a personal advisor who can help assess how you’re doing so far and make sure you've got the right portfolio to meet your goals on time.
Vanguard’s hybrid advisory system combines advice from professional advisers and automated portfolio management to make sure your investments are working to achieve your financial goals.
All you have to do is fill out a brief questionnaire about your financial goals, and Vanguard’s advisers will help you set a tailored plan, and stick to it..
Once you’re set, you can sit back as Vanguard’s advisors manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.
Diversify your portfolio
By mixing up your portfolio with a variety of assets, you have a better chance of balancing risk and reward.
With First National Realty Partners — a private equity firm — you can gain access to commercial, grocery-anchored real estate. And you don’t have to worry about being a real-estate mogul, because FNRP’s team of pros take care of the investment through its entire lifecycle.
Because these investments are grocery-anchored, they never go out of style even when the economy is volatile. So you can save for your future without having to worry about the health of your investments.
An asset such as fine art is a great way to diversify your portfolio with a little bit of color. With Masterworks everyday investors have easy access to renowned works of art through fractional shares.
Masterworks’ online platform makes it easy to invest in art without the legwork of attending auctions or even being a connoisseur yourself.
Work longer and delay Social Security
Working longer not only delays taking money out of your retirement investments, which allows them to continue compounding earnings growth, but it also pushes back the age at which you’ll need to start collecting Social Security payments.
Take that $202,000 investment portfolio. Invested in a conservative portfolio returning 5% annually — the historical average return on stocks is 11.9% — that money would grow to $233,840 in three years. Assuming you’re following the 4% rule for withdrawals, that would amount to $9,354 per year — an increase of $1,274 each year.
With Acorns — a saving and investing platform — you can turn spare change into savings, making it easy to grow your investment portfolio and save for retirement without thinking twice.
All you have to do is link your bank account and spend as you normally would and Acorns will round up your everyday purchases to the nearest dollar and then invest your spare change in diversified portfolios that are built by experts with ETFs, and are managed by top investing firms.
Signing up for Acorns takes less than five minutes, and you can start saving for your retirement just $3 a month.
Cut your expenses
Finding ways to lower your expenses in retirement produces a big bang for each buck, because you’re saving after-tax money.
Try to look for recurring monthly expenses you can cut because that’ll mean you see those savings every month. Take your car insurance bills, for example.
With Pretected you can find the best auto insurance rates near you. All you have to do is answer a few questions about yourself and your car and you’ll get matched with insurance policies tailored to you.
With Pretected you can compare from multiple companies without having to do the virtual legwork yourself.
