Aug 29, 2023
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New research by the Federal Reserve shows that an astounding one in four Americans (including the 27% who consider themselves retired) have absolutely nothing saved.
And even if you have something tucked away, it may not be enough — though that is something you can change even late in the game.
A Vanguard study found those between 55 and 64 held an average of roughly $256,000. But this includes high income earners; breaking the figures down, it shrinks to a median of about $90,000.
It’s never too late to start putting cash aside — so here are three tips to grow your nest egg.
Talk to a professional about your financial situation
If you're worried about your nest egg, finding a trusted financial adviser who knows your retirement goals inside and out can give you peace of mind.
There are free online services* that are designed to match you with experienced professionals based on your unique needs.
WiserAdvisor*, for example, can pair you up with a pre-screened advisor to match your financial needs.
You don’t have to navigate your retirement savings alone, and you definitely don’t have to do it without a vetted financial adviser at your side*.
Once you're matched, consult for free with no obligation.
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Protect your nest egg with a stable alternative
With the economy in such a volatile state amid high inflation and stock market uncertainty, your 401(k) or IRA — and your retirement itself — could be at risk.
A Gold IRA is a great alternative to protect your future. Unlike the U.S. dollar, which has lost 98% of its purchasing power since 1971, gold’s purchasing power remains stable over time*.
Birch Gold Group* is a reputable precious metals dealership offering IRAs and direct purchases of precious metals and coins.
While inflation is increasing everyone’s expenses, precious metals won’t be affected — so a Gold IRA might be the best thing to preserve your retirement*.
Explore better insurance rates
It’s not uncommon for people to take what they’re given when it comes to insurance rates. But the truth is, you could be wasting away a solid nest egg by overpaying for your coverage.
SmartFinancial* is a platform where you can compare home insurance rates in your area. All you need to do is answer some quick questions about yourself and they’ll instantly sort through over 200 insurers to find you the best rates available and any discounts.
According to data from Forbes, the national average cost for car insurance in 2023 is $2,118 per year, or $176.5 per month.
But, depending on which state you live in, your driving history and the make and model of your car, there are some insurers that can offer you as little as $22 a month for insurance.
Luckily, Pretected, makes it easier to for you to comparison shop instantly. Choose the best available car insurance quote for you in minutes.
They do all the work for you so you can shave your monthly insurance bill and put that extra cash into your future.
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