Perhaps you’ve done everything right when it comes to saving for retirement. You started and maxed-out your 401(k) early, diversified your investment portfolio, and avoided costly mistakes. Everything seems to be going according to plan for you. But here comes the hard part of saving for retirement: making sure you don’t outlive your money.
The best way for any senior to stay on their feet during their golden years may be to try to maintain a steady stream of income even after retirement.
This doesn’t necessarily mean they have to stick with a 9-to-5 schedule. There are several other ways a senior can generate income without resorting to traditional options. Mark Cussen from Investopedia recommends seniors to “build up a nest egg by tweaking any risks to your investments.”
He says, “Moving a sensible portion of your portfolio to equities or higher-paying fixed income instruments will provide your nest egg with a long-term hedge against inflation.”
Cussen also suggests moving about half of the savings to preferred or utility stocks.
Lastly, seniors should consider downsizing their homes. This not only saves them money in the long run but can prove to be more comfortable for them, too. Home health care in Houston, Texas, can be more easily provided in residences that are more convenient for seniors to navigate.
We at B&J Healthcare Services, Inc. provide top-quality home health care services, such as skilled nursing in Texas, to clients who need specialized care and assistance to tackle the different challenges of everyday life.
If your loved ones are ever in need of home health care or personal care services in Texas, you can count on us to get the job done.
Contact 281-533-5530 for details.