SAN ANTONIO — You made it to the finish line! There are no kids or work to worry about as a retiree. Here are 5 ways to invest in yourself and improve your retirement.
Get your mindset right
“Quit worrying. I’ve never had a client run out of money. You know when you do proper financial planning: You stay diversified, you have your priorities, you know your cash flow. Quit worrying and enjoy retirement," said Karl Eggerss, senior wealth advisor and partner of Covenant.
Don’t get too conservative
“It’s very common. I see this all the time. People retire, their income has stopped. They have their savings and they want to hunker down."
"Now is the time to actually enjoy those savings all those years that you’ve put away for a rainy day that you necessarily haven’t needed," Eggerss said. "So you want to enjoy it. I often see my clients not spending enough money."
"Are you thinking about the money going to charities in the future? Are you thinking about it going to your kids, your grandkids? Really think about, 'Do I have enough for my lifetime?' And if you do, 'What else do I want to do with my money?'" advised Eggerss.
"What do I want the rest of my life to look like? Some people spend 30 to 40 years in retirement," Eggerss said. "What type of volunteer work are you going to do? Are you going to do another part-time job? There’s more out there than just about money when you retire."