As we’re nearing retirement, the financial planning representative at our bank advised us to review our investment portfolios quarterly to ensure that our investment mix is solid and that we’re earning as much as we can.
And since we’re over 50 and weren’t as vigilant with retirement contributions when we were younger, we’re doing “catch-up contributions” to further grow our savings.
Shortly after our children started grade school, we switched our family over to a Health Savings Account. We’ve saved on insurance premiums and we’re building a nice financial safety net for future health care expenses.
My wife and I are also thinking about downsizing. We love our home, but it’s just too big for us since our kids have moved away. With the equity we have now, we’ll be able to purchase a smaller home and reduce our monthly expenses to further prepare us for life in retirement.
And hey, it can’t hurt for us to take advantage of our “senior status”. We’re looking at some special accounts at the bank that will save us more money as we near retirement.
It may be a few more years before we retire, but knowing that we’re doing everything we can now, to maintain the lifestyle we want, then, is comforting. We’re looking forward to starting this next chapter, together.
NMLS #407985