For many people, reaching the age at which they must retire means living on a pension that almost never reaches and depend on children or grandchildren. However, this does not have to be like this.
Retirement can be one of the best stages for your finances, as long as you make the right decisions
It’s never too late to start making financial changes, and if it didn’t occur to you before it was important to do so, this is the time. Here are four tips so you can make the most of your money at this stage:
1. Train yourself financially
The first thing to do is learn a little bit of finances and the tools at hand to save a little more and why not, grow your money. Some banks have programs for the elderly, other institutions also provide courses, you just have to find out and find the right option.
2. Start investing
Again, age should not be an impediment. Understand that through several instruments you could grow your savings to give yourself the odd taste, it will allow you to start investing. One of the easiest instruments to handle is the Term Deposit Certificates. With them you can deposit the amount you want and not withdraw it until the deadline is met (for example, one year); When the deadline is met, you can withdraw it and also collect the winnings.
3. Take advantage of the benefits
There are many places where they offer special rates for retirees. From cinemas, shows, to pharmacies and clothing stores. What you should do is find out which benefit program suits you best and start using it. That way you can save on your monthly expenses.
4. Don’t try to solve everyone’s life with your money
Something to remember is that now that you don’t work, you should control your income. It does not mean that you can never have a treat, but it also does not have to go through life offering to lend or buy things to others all the time. Now is the time to worry about yourself and start thinking about your finances, dreams and goals.
If you like the option to invest, remember that you can use the Comparator of Certificates of Deposit to Term (Term Deposit) to find the alternative that pays you the most.