Skip To Content

Carmel, IN – Tips for your Retirement

dollar signAre you retired or soon to be retired and wondering if your retirement savings is going to last? Even if you are lucky enough to have a comfortable retirement nest egg you may worry it might not last you the next 30 or so years of retirement. It only takes one financial disaster or medical crisis to devastate your life savings. Don’t worry though, we’ve researched several tips to help keep your Carmel, IN retirement and home protected and hopefully help it to grow along the way.

Rainy Day Fund. Some retirement planners say retirees should have from six months to a year of living expenses outside of your regular retirement account. This will give you a safety net and keep you from drawing from longer-term investment savings. Having this rainy day fund completely insulated from the stock market will help ensure it’s longevity, no matter what the market may bring. Make sure your rainy day fund is not completely in cash though as there is no return after taxes and inflation on cash.

Plan for Healthcare. Even if you are relatively healthy you need to plan for possibilities of catastrophic illness. If you are still working and planning to retire soon, make sure to take advantage of any health savings account. It’s completely tax free – it goes in tax free, grows that way, AND is tax free when you withdraw.

Downsize Your Home. Reduce your living expenses and possibly gain enough from your current home sale to add to your savings by selling your Carmel, IN home and buying a smaller, more manageable home.

As a Carmel, IN real estate agents, our services extend well beyond helping buyers and sellers through their transactions, we can also help connect you with a investment professional who can help you implement some of these above tips for your retirement. Please contact a Carmel, IN real estate agent if you are planning to downsize your Carmel, IN home. We look forward to hearing from you!

Rodney & Amanda Heard
Heard Real Estate Team

View Listings
Visit Our Website
Email Us

Connect with Us:

Trackback from your site.

Leave a Reply