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Thats exactly what you should be doing, but what about when you stop working and start retiring?
There are lots of ways to continue to build your wealth up in retirement by makingsmart investment moves.
Who doesnt want a bit of extra cash flow on hand?
Once you retire, the goal is usually to stop working altogether.
But that doesnt mean you cant find ways to earn extra money.
According to our experts, these are the five best investments tohelp you continue building wealth after you retire.
By diversifying your investments, you make the chance of losing all of your savings lower.
The tax benefits provide an immediate return and compounding interest works in your favor over time.
Ive seen clients accumulate hundreds of thousands in these accounts.
Pace recommended investing in low-cost index funds, specifically a mix of stocks and bonds to balance risk.
They provide broad market exposure and solid returns over the long run, he said.
Just check that you are putting your money instable, growing markets.
Rental income and property appreciation can generate strong returns, Pace continued.
I have clients with small real estate portfolios that will provide income for life.
Having an annuity cover your basic living expenses is a terrific cornerstone to a retirement income plan.
Having a longevity annuity allows one to take more risk with the rest of your portfolio, Johnson described.
Too many investors completely derisk their portfolios upon retirement.
The peace of mind that annuities provide cant be understated.
Stay invested, said Pace.
Ive witnessed too many clients hurt their returns by jumping in and out.
Stick to your strategy.
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