Whenever the value of your investments sinks after your retirement, you should have a little choice, but to spend less or simply return to the workforce.
However, there are many ways for you to make a little more cash without even dealing with a commute or worried about your time if you are looking for the best ways to make money in retirement, here are some of the tips you might want to consider:
Sell some of your stuff – the retirees actually have a lifetime’s worth of accumulated books, furniture, and even clothes. If you are looking for a simple way to make a quick cold cash, then holding a small garage sale or simply by selling some of your stuff online would be ideal. Take your clothes to a consignment shop and a box of your books to the nearest bookstore. If you also want a significant boost, then you can always use one car and sell the other. The savvy sellers can actually purchase underpriced used goods and easily resell them at a higher rate.
Start marketing your skills – whether you know how to alter and hem clothing, troubleshoot computers or even research the family genealogy, there will always be someone in your neighborhood who is willing to pay for your skills. Simply put an ad into your local newspapers or hang fliers on the community bulletin board, or simply offer your services online.
Prune Your Investments – consider reviewing your investment portfolio and simply get rid of the funds that are performing poorly. You should also identify the investments with high expenses and simply transfer that money into a comparable investment with lower management fees as well as expenses.
Maximize your social security – the age that you sign up for the Social Security could simply make a big difference in the size of your checks. Social security payments simply increase by 8% every year. If you have good health, you will be better not taking your benefits early. Those retirees who have claimed their benefits still have the opportunity to boost their checks. Those seniors who pay back the whole amount they received without interest could reclaim at the higher rate.
Use your Medicare benefits – you must sign up for the Medicare Part B at the age of 65. This will help you avoid 10% premium increase for every year of delayed enrollment. You need to annually shop for the most economical prescription drug plan, which is the Medicare Part D, in order to meet your medication needs. Taking advantage of the services that Medicare will also be covering is essential for you to save and make money in retirement.
So, if you would like to fight poverty during your retirement and have enough or even more than that in your retirement, considering the best ways to make money in retirement would be a good idea./best-ways-make-money-retirement//wp-content/uploads/2014/12/retirement_400.jpg/wp-content/uploads/2014/12/retirement_400-200x133.jpgMake Money