How to Boost Your Wealth in Your Last Years Before Retirement

Are you nearing retirement and looking to maximize your wealth in those crucial final years? I'm talking you through 3 powerful strategies that can help you supercharge your savings and set yourself up for a financially secure retirement.
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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

[@Arlenewalter]

I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.

[@johnoli2976]

Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.

[@duanec.duanec.sutherland5292]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@LavernSTERN]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@duanec.duanec.sutherland5292]

I definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@LavernSTERN]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@irpain8617]

Catch-up contributions can't replace the benefits of time in the market. Discipline and starting early is the best Habit...!!

[@OroborusFMA]

Some of us started late. Very late in some cases.

[@educatedwanderer9293]

Maximize catch-up contributions in 50's, second tier of catch-up at 60 thru 63, optimize tax-diversification, and stay growth oriented by using strategy.

[@rolandosouffrain7957]

I have 19 yeats till retirement so i will start these things in 14 years. Lol 😂😂😂my question is if the average income is around $70k a year how many households or individuals can actually do the catch up contribution? Im maxing out my Roth 401k this year but its very hard with inflation and everything so expensive