How To Reach MILLIONAIRE Status By Retirement (Part 2)

by | Sep 22, 2021 | WWC WorthWhile Reading


Grow Your Savings 16x Faster


Part of being prepared for retirement is having a good chunk of money available now, too. If you have a healthy savings account, you won’t have to worry about dipping into your retirement fund early (which can come with hefty fees!).

But you still want to make sure that money is going to grow, right? Under your mattress or in a safe will get you nothing. And a typical savings account won’t do you much better. (Ahem, 0.06% is nothing these days.)

Shop around or talk to a financial advisor like us here at Worthwhile wealth Council to find high yield banking and checking accounts that will make your money multiply faster.



Take Advantage of Your Employer’s Retirement Match


If you follow any of these rules let it be this one!!! Setting aside money from your paycheck to put into your 401(k) is literally one of the smartest things you can do for your future. And if your employer matches each contribution, that could mean hundreds of thousands of extra dollars in your account when you retire. It’s free money and our favorite way to save toward retirement!!

We know it sounds too good to be true. But if your employer has a 401(k) match program, this is money they already have earmarked for you.

Let’s say you make $50k a year and your employer matches your 401(k) contribution up to 4%. If you put $0 in your retirement account this year, you get $0 from your boss. But if you invest that 2%, just $2000 per year, from your income it will become $4000!



Improve Your Credit Score So You Can Afford Big Life Purchases


Owning a home can be a great investment in your future — home values tend to appreciate over time, meaning the house you buy now could bring you a serious windfall when you sell it and retire to Scottsdale.

But if your credit isn’t excellent, you could be hard-pressed to find a fair interest rate on a mortgage — if you get approved for a loan at all. That’s why it’s important to stay organized and keep tabs on your credit score.

There are many websites that will let you check your credit score for free and even give you some insights on how to improve your score.



This commentary originally appeared September 7th on Sourced from: