2 minute read
Travel In Style
from Sacramento 2
by The 55 Guide
Put new retirement savings to work
Not sure where to invest additional money? Aim for growth, somewhere between a trip to Vegas and stuffing cash into your mattress. The sweet spot • Balanced mutual funds: Seek a mix of stocks and bonds; a 50/50 or 60/40 ratio of stocks to bonds is reasonable. • Target-date mutual funds: These balanced funds automatically adjust investments to lower risk as you age.
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Conservative but sound • High-grade corporate bond funds • Money market accounts • U.S. government bond funds • Certificates of deposit and online savings accounts (See bankrate.com for Federal Deposit Insurance Corp.–insured banks offering higher rates.) • Series I inflation-protected savings bonds (sold at treasurydirect.gov)
Work
Prepare Your Plan B - Ask yourself these questions, and be honest. 1. Do I work in a stable and growing industry? 2. Do I work for a stable and growing company? 3. Is my heart still in it? Have you answered no to any? It’s time to update your LinkedIn profile and see what else is out there. • Why do it: Only about half of workers cruise their way to a planned, voluntary retirement; the rest of us exit prematurely, often as a result of job loss or burnout.
You still have time to regroup. “With 10 years to go, there is still enough runway to make a mark,” says career and retirement expert Nancy Collamer. • How to do it: You know the routine. Tell people who can help you. Sign up for job alerts on the go-to site in your industry. Browse the postings that interest you, and note the skills that employers are seeking. • Want to stay put?Get busy anyway. “Whether you drive a bus or work in a store or in a professional occupation, maximize your opportunities by building your capital,” Collamer advises. “Give talks or write articles to boost your profile, or take advantage of short-term training programs.” One option: Go to linkedin. com/learning and get online access to thousands of business, creative and technology courses for $30 per month.
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