4 basic tips for you to learn how to manage your money intelligently after retirement:
If you have already crossed 60 age and you on the stage of retirement, you will be required to manage money. Here we have offered 4 basic tips.
1. Save 10% of everything you earn to invest:
There is a point of view defended by many billionaires and very successful people financially, which is the following: “pay yourself first”. Before someone uses the phrase as an excuse to deceive others, it is good to explain well. The idea is that you separate at least 10% of what you earn immediately, before looking at the accounts or leisure items. Did you get $ 100.00? Set aside R $ 10.00 right now to invest! It’s that simple.
2. Reinvest all the return on your investments:
Let’s return the 10% we talked about in the previous point. If you think that in the future they will be used to return them on trips, cars or any item that is your dream of consumption, you are deceived. All performance must be reinvested. This is where you can come to think: but what is the use of having that money if I’m not going to use it?
3. Never spend more than you earn:
This is obvious advice, right? Well not so much. Most people know that they should not spend more than they earn, yet they continue to make the same mistake repeatedly.The apologies and justifications for repeating the misunderstanding are the most varied, but keep in mind that sooner or later, it is necessary to face reality.Debt with the credit card month after month just makes you put the problems aside. It may be that you are not still in a desperate situation in terms of finances, but that behavior simply takes away your freedom of choice since you will be in trouble every month.
4. Avoid financing in small installments and high interest
When we want a consumer good, we are often attracted by the financing of low quotas. However, it is good to open your eyes well. The vast majority of the time, fees represents high interest.It is enough to put ourselves in the place of the company that is selling the product or service. This need to acquire profits and the financing is not more than a loan. Therefore, stay tuned, In general, the less time it takes you to get out of a loan, the less interest you will pay. Not to mention that it will allow you to better manage your money.
5. Enroll in the 2020 Best Medicare Supplement Plans https://www.medisupps.com/medicare-supplement-plans-2020/