subject: Make More Money For Your Retirement By Spending Less Every Day [print this page] Make More Money For Your Retirement By Spending Less Every Day
There are many ways to achieve your retirement goals. Many of us want to make more money now to enhance our chances of retiring in luxury. The reality is that there are many different ways to get to the retirement promise land, and making the most money you can is only one part of the equation. Other factors are how someone will invest the money they have, and how much they spend over the number of years that they work. Often the lack of making big dollars can be offset by really reducing costs and expenditures over time.
Major purchases over the years will be a huge factor in your ability to make more money for your retirement. If you purchase fewer new cars, boats, and expensive toys, you can lock that cash into retirement funds. With the insane costs of vehicles these days, driving a sensible used car instead of brand new luxury vehicles can cut years off of your working life. The difference between retiring at sixty years old versus seventy might lie in your frugal car purchases over the next several years. You have to ask yourself what is more important, the fancy sports car, or working for ten more years?
Another way to make more money for your retirement is maintaining a sensible budget, and monitor your luxury item spending. While having some nice things and taking some nice vacations on occasion is part of living, continually having extravagant things and vacations that rival the royal family are killers to your retirement savings. Again, you have to ask what is more important to you, those extra weeks on the French Riviera, or fewer years at work?
Ultimately, you will find that the idea to make more money for your retirement account by cutting some of your needless spending is not very hard at all. You are not cutting out your groceries or basic needs, merely the things you do not have to really spend money on like that third big screen television for your ridiculous "man cave" because it is the trendy thing to have, or the huge assortment of expensive power tools that you don't even know how to use, let alone plan to actually use to build anything. Is showing off to your neighbors worth the extra years at work? When you really think about it, you know what the answer is.
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