As we get older, we start to think (and potentially worry) more and more about where our retirement income will come from. After you leave your job and begin on the journey of retirement, you will rely heavily on guaranteed sources of income. For most people, they assume this will be mainly collecting Social Security. However, there are many other sources that could be the key to living a comfortable retirement lifestyle and finding what works best for you, so that you can help finance your retirement goals. But, also remember that financing them is only one part to the equation, as you have to make certain that you stay focused on your retirement goals. Planning is the key to your retirement masterpiece.


If you started planning early, you may be able to use your 401(k)s and IRAs to help create a sustainable and dependable source of retirement income. Unfortunately, most Americans have not put enough of their savings into these accounts to rely on them, but there are plenty of other ways to make up the difference and make sure that your bills are paid for with money to spare. One of these ways is with taxable investments. The most important step with investments such as stocks, bonds and mutual funds, is making sure that you diversify your portfolio. The benefits of basic diversification can help you to have all of your assets accounted for, while making sure that they all aren’t moving in the same direction all the time.


If you are fortunate to live a long retirement, you also should make sure that your money will last as long as you do. One way to make money in retirement is by selling things you no longer need or renting unused rooms in your home. Renting gives you a steady income each month while selling goods that you no longer need can help clear out clutter and give you some extra cash. You can even expand to online selling platforms such as eBay or Craigslist or sell handmade crafts on a website like Etsy. Lastly, some retirees decide to pick up a part time job. This helps with retirement income, but also can be a great way to spend some time doing what you love. When retirees go back to work part-time, it can be much more relaxing than their full-time positions, thus giving them an opportunity to work in a low stress environment and meet new people.


At SHP Financial, we believe that a successful retirement first starts off with a solid, customized retirement plan. CLICK HERE to visit us online and schedule your no cost, no obligation financial review today! We’ll work together to go over your financial plan to help discover how to best finance your retirement goals for the long road ahead.

The content presented is for informational purposes only and is not intended as offering financial, tax, or legal advice, and should not be considered a solicitation for the purchase or sale of any security. Some of the informational content presented was prepared and provided by tMedia, LLC, while other content presented may be from outside sources believed to be providing accurate information. Regardless of source no representations or warranties as to the completeness or accuracy of any information presented is implied. tMedia, LLC is not affiliated with the Advisor, Advisor’s RIA, Broker-Dealer, or any state or SEC registered investment advisory firm. Before making any decisions you should consult a tax or legal professional to discuss your personal situation.Investment Advisory Services are offered through SHP Wealth Management LLC., an SEC registered investment advisor. Insurance sales are offered through SHP Financial, LLC. These are separate entities, Matthew Chapman Peck, CFP®, CIMA®, Derek Louis Gregoire, and Keith Winslow Ellis Jr. are independent licensed insurance agents, and Owners/Partners of an insurance agency, SHP Financial, LLC.. In addition, other supervised persons of SHP Wealth Management, LLC. are independent licensed insurance agents of SHP Financial, LLC. No statements made shall constitute tax, legal or accounting advice. You should consult your own legal or tax professional before investing. Both SHP Wealth Management, LLC. and SHP Financial, LLC. will offer clients advice and/or products from each entity. No client is under any obligation to purchase any insurance product.
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