Business education platform Crucial Constructs has released a report designed to help those entering retirement without necessary funds create a plan that will help them live more comfortably.
Austin, United States - August 18, 2021 /NewsNetwork/ —
Retirees struggling to survive on very little can feel overwhelmed by their circumstances and unsure about their future. A report released by Crucial Constructs titled “How to Retire with Little or No Money in Savings” offers strategies Americans can put into action to supplement incomes, reduce expenses and assuage anxieties.
More information can be found at https://crucialconstructs.com/how-to-retire-with-little-or-no-money-in-savings
Studies show that 22 percent of Americans have less than $5,000 in their retirement savings. 15 percent of Americans have little to no savings. The new report will help retirees who are struggling to make ends meet create a tenable plan for their future.
Fundamental to any difficult situation is the drive to make a positive change. Authors of the Crucial Constructs report say readers can set about creating a better financial future by following a five-point plan.
The first point of action the report suggests is a thorough examination of social security benefits. Many Americans expect to live on these benefits through their retirement, but this isn’t always possible. A change to the social security format in 2019 means today’s payouts average less than $1,500. Understanding this framework will help beneficiaries lay the foundation for a more practical lifestyle.
To create this new lifestyle, a reduction in heavy financial burdens such as vehicles and mortgages is recommended. Individuals living in pricy cities may want to consider moving to more affordable areas. Moving from New York to Arizona, for example, can reduce living expenses by 20 percent. Debt repayment should also be a top priority and credit card debt is something to be avoided altogether.
The report advises individuals nearing retirement to learn more about their pension plans. Many who’ve worked for the same company for years will receive pension payments which, when combined with social security benefits and a more modest lifestyle, can lead to a comfortable, worry-free future.
If continued employment beyond the age of 65 is possible, Crucial Constructs recommends working in high-demand areas such as consulting, baking, or dog walking.
With the release of their recent report, Crucial Constructs is helping audiences that are concerned about the impact of their financial position on their retirement years create an ideal lifestyle certain to contribute to a comfortable future.
Learn more at https://crucialconstructs.com/how-to-retire-with-little-or-no-money-in-savings
Contact Info:
Name: Robert O'neill
Email: Send Email
Organization: Crucial Constructs
Address: 16238 Highway 620 N., Suite F-104, Austin, TX 78717, United States
Website: https://crucialconstructs.com/small-business-online-marketing-tips-for-beginners/
Source: NewsNetwork
Release ID: 89042375
