Most people who are working may be fortunate to have an employer sponsored 401K or other retirement plan. Those who do not have one should think about finding a way to save for the future some other way. Savings accounts, Certificate of Deposits, and other such financial products are available and are easy enough to make automatic withdrawals in to. Savings accounts from credit unions usually offer better benefits than those from traditional banks. Find way to save a little money here and there. A good start is to take $ 50 a month and deposit it into any savings plans. At year end, there will be $ 600.00 in that account which was not there before. Deposit as much as possible to protect yourself in the future.
Part-time Work, Mentoring, Consulting
People who have worked a long time in a specific field or industry are perfect for mentoring or consultancy type jobs. Their knowledge, experience and expertise in it is very beneficial to the younger generations. Part-time work allows for additional income as does the other types of work above. Specific skills, such as accounting and transcription, will always be needed and pay well at these levels of employment. All of them add up to a little more money in the bank. Who can not use more of that?
Loss of Job or Medical Problems Cause Dip in Retirement Savings
Anyone who is in their mid-40's to 60 years old and still working, knows that there are still a decent number of years left to work. Sometimes, this does not work out. A job loss or major medical issue can waylay the best of plans. While no one wants to think if that might happen, thinking about it can be helpful. What will you do? How will you pay your mortgage, rent, and other bills? Some are dipping in to their retirement accounts to pay bills. And even though there are many "experts" warning against this, there are valid reasons for doing so. It is more important to know you will not sleep in your car than to…[ad_2]
Sourced from by Becca Bryan