More Retirement Planning Tips For The Near Retiree

If you're still several years away from normal retirement age

, or planning to delay your retirement for a few years, you'll have a better chance at building a bigger and more stable nest egg. Despite today's uncertain market, you can rise to the challenge of becoming a more effective investor. Here are a few things you can do now that can make a huge difference when you retire some years down the road:

Saving more will give you more. Even if you encounter significant investment losses, you'll end up with more compared to if you'd spent the money in your savings account. In addition, participating in a 401K plan with matching contributions from your employer can help buffer losses.

If you're still looking for new investments, try to put your money in businesses or companies that have a record of working well despite economic adversity. Manufacturers or distributors of staple consumer products, for instance, fare better than other companies in a recession. Invest in industries that always have profitability, or search for funds or portfolio managers who approach investing with long-term methods and goals - you can pick up stocks or shares from companies that are, as they say, diamonds in the rough.

Work with technology, and use it wisely. You can manage your budget even if you aren't home or at the office by using smartphone applications, or accessing your credit union or bank's website from your mobile. The ease of use these tools afford you enable you to actively keep track of how much you make, how much you spend, and even help you set budget, savings, and investment goals.

If you're nearing retirement, you'll have to make the most of everything that can help you build a stronger nest egg. Aside from saving more money, investing in businesses that thrive despite adversity, and working with fairly new technology can allow you to take control of your spending and give you bigger earnings for a comfortable, less stressful retirement.

by: Carina Smith

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