Don’t be too conservative
Just how much money do you really need to save up? That’s an almost impossible question to answer since it depends on your life expectancy as well as other outside factors. Should you set money aside for 20 years of retirement? What about 40?
Since it’s difficult to tell, one way to ensure that you’re covered is by diversifying your investments. Make use of everything today’s economy has to offer, from saving accounts to investing in the stock market. That way, if one plan goes south, you’ll still have enough assets to work with. To put it simply, don’t bet on one thing and expect it to work out for you.
Financial advisors could help you determine how to divvy up your money, so don’t be afraid to reach out to one, sit down, and form the best plan for you and your household.
