Saving and Investing For your Future

It’s true! We cannot change the past but we can change our future. If all of your friends are covered for retirement and you are feeling fearful of your future please sign up for our newsletter as I will be adding experts in the field of finance to help you learn how you can save and invest in your future.

If you read my About Me, you know I believe it’s never too late and that includes saving and investing for your future!

While we are on this topic buy this book today, The Slight Edge by Jeff Olson “Turning Simple Disciplines Into Massive Success & Happiness.”

 

Reduce Debt

I am not going to go into detail on this because we have all heard this over the years and you know what to do just do it!

  1. Getting out of debt starts with a commitment to change.
  2. Start with organizing all of your debt-face the facts head-on.
  3. Pay off your debt with the highest interest rate first.
  4. Negotiate! Many creditors will take a smaller amount than owed if you are just honest about your situation.
  5. Just get started!

 

Increase Your Income

I know, duh, right? But what I am saying is that this is not about your current career as I am sure you have been working hard for that raise and your income. But what about adding a side hustle or gig income.

  • Gig Jobs: Think UBER, LYFT, DoorDash, Uber Eats, Instacart shopper, Fivver
  • Side Hustles: Bookkeeping, Baking/catering, Dog Walker, Content Writer, Tutoring, Virtual Assistant
    Purchase our Ebook: Success After 40; Side hustles, career coaching and resources for women over 40

 

Open a Health Saving Account/HSA

This is one of the best pieces of advice I received years ago and I am so happy that I was able to put money away for everything from eyeglasses to dental work. I have been saving it for future medical needs but you can use it when you need it, like a pandemic! 

Definition:A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs. HSA funds generally may not be used to pay premiums.  Check out heathcare.gov for the full article on health saving accounts. 

If you take away anything from this post, the message I am sharing, and the message I received in my research is-it’s never too late to get started. With a little effort (a lot) and making changes in your life, you can create security for your future.

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