There are many ways in which to plan for your retirement.
Even if you are in your twenties, you should be thinking about a way to save. After all, social security is going to collapse by the time Millennials are going to be ready to retire, so that safety net is out.
If you’re counting on your employer-contributed 403b plan to take you through your golden years, you may be in for a rude awakening. People are living longer than ever. If you take good care of yourself, there is a chance that you could live to see your hundredth birthday.
That means that if you were to retire in your sixties, you would have more than forty years left to live off of your savings. You may be looking around and saying, “How is that going to work? In the last two months gas prices have doubled and so have the prices of a lot of my groceries.
“How can I plan to live for forty years off of my savings if I can’t plan for things like that?”
You’re right to be worried. You’ll probably need another investment or a way to turbo charge the ones you already have. But which one is right for you?
If you’ve stumbled onto this article, then you’re interested in moving your money around. Let’s take a look at some of your options, including a 403b rollover to Roth IRA, in the list below.
Take a Chance
Have you ever heard the expression, “Nothing ventured, nothing gained”? It means that there are few ways in life to get ahead without taking a risk.
When Sir Edmund Hilary first climbed Mount Everest, it was a very dangerous journey. Many of the natives had been able to climb to the top, but never before had a white man been able to summit the peak.
Everyone pretends that he was the very first person to climb to the top of the mountain, discounting that he had sherpas as guides to take him to the top. The sherpas were responsible for carrying the necessary supplies on their backs while the Englishman was just along for the ride.
Not that he didn’t face hardship. To discount his struggle would be unfair. He suffered frostbite and exhaustion. He just wasn’t the first.
Of course, now if you want to climb to the top of Mount Everest your biggest danger would be coming not from the elements, but from your fellow tourists.
What was once a thrilling challenge for the most adventurous people in the world to take on has become a tourist destination. People want to brag about climbing the world’s tallest mountain without actually learning any of the skills it takes to do so.
There are climbing ropes to guide people up. They lead past the dead, frozen bodies of those who have struggled against the elements and come up short.
The lines of inexperienced travelers are so long, people often get stuck on their way to the top. Sometimes they are stuck there without enough food or other supplies to get them through the traffic jam.
What a waste; to die on Everest because it’s too crowded. Why not travel to Alaska to climb Mount Kilimanjaro? At least you’re likely to die from walking off the side of a mountain instead of from the length of the queue to get to the top.
If you don’t want that to be you, then this investment opportunity I’m talking about might be just the kind of thing you’re looking for. It’s off the beaten path. It won’t be featured on MSNBC anytime soon.
I’m talking about a gold IRA. Click here for more information about gold as in investment.
Making it Last
There are lots of ways for you to save money in the meantime. Let’s take a look at one of my favorites.
Instead of buying bread at the store, you could make your own. That’s what I do. It takes about five minutes of prep work and about five minutes of work on the day. All it takes is a little planning.
You want to make your dough the night before you plan to bake. You need four cups of flour. You could choose bread flour, all-purpose, or whole wheat. If you choose to use whole wheat, I recommend that you mix it with one of the other types.
Whole wheat has a different consistency than other flours and it could come out denser than you would like.
You will also need some salt, some water, and some yeast. Many recipes pretend like you can make bread without olive oil, but I don’t know why they do that. It needs a little fat in it to really form into a ball. But I’m getting ahead of myself.
First, you need to look at what kind of yeast you have. If you have the yeast that comes in a packet, you’re all set. All you need to do is dump it in with your ingredients. If you have the kind that comes in a glass jar or a larger foil package, then you’ve decided to level up your bread making skills.
Let me be the first to congratulate you. You’re in an elite club. You haven’t let the hype about bread making being difficult scare you off. You’re right to do that.
I’m going to give you the process to make no-knead bread. First, you combine all of your ingredients in a bowl. If you have a stand mixer, this is the perfect time to use it. You should use the dough hook attachment that came with your mixer. It looks like Captain Hook’s hand.
Mix everything together just enough to combine. There should be no clumps of flour left. Don’t bother continuing to mix. This isn’t like a traditional bread recipe.
Once everything is combined, cover it with plastic wrap or a bowl cover.