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Inflationwas likely part of your retirement planning strategy.
However, you may not have been prepared for the levels its reached in recent years.
Thankfully, inflation comes off as on the decline.
Given this, it might be time to find a few new ways to manage your retirement nest egg.
Keep reading for five ideas to helphold onto your money amid inflation and plunging interest rates.
Adjust Your Spending
This might sound obvious, but its often easier said than done.
Take a look at your spending habits to find relatively easy ways to spend less.
It might not seem like a lot, but cuttingeven small expenseshere and there can add up.
This can ensure your investment strategy reflects both the current economy and your retirement goals.
Therefore, its important to ensure your portfolio allocation is still working for you.
Having too many risky investments ortoo few conservative investmentscan negatively impact your nest egg, also according to TIAA.
Therefore, its a good idea to meet with a financial advisor to double-check your portfolio is properly balanced.
Another idea, tax preparers earn an average of $18 per hour, according to ZipRecruiter.
The great thing about a side hustle is theres something for everyone.
This is aquick and easy wayto hold on to your hard-earned money.
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