9 Tips to Retire Happy With a $500,000 Nest Egg

A half-million bucks. Sounds like a lot, and it is. Unless, that is, you’re planning on living another 30 years with only Social Security as income.

The average Social Security monthly benefit is only around $1,800. You may survive, but will you thrive?

If you’ve managed to put aside $500,000 to supplement that income, congratulations. But you’ve probably realized by now that even that may not be enough. After all, if you earn 5% on your savings, that only adds a little more than $2,000 more per month to your income.

We’ve compiled nine game-changing tactics that will help your money work a little harder and pay you a little more. From savvy investments to smart savings hacks, these tips are your ticket to a happier, earlier retirement.

Not all these tips may apply to you, but some of them will, so be sure to read them all.

1. A proven way to boost your savings

To properly manage your money, work with a professional — it’s totally worth it. If you’re not doing this, you could be missing out on some serious financial gains.

A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial adviser. That’s twice as much!

If you’ve got at least $100,000 in investments, check out a free service called SmartAsset. You fill out a short questionnaire and instantly get matched with up to three vetted financial advisers in your area, all legally bound to work in your best interests.

Even if you don’t want help picking investments, an adviser can help lower your tax burden, create a comprehensive financial plan for you, maximize your Social Security, and serve as a second pair of eyes to make sure you’re on the right track.

Using SmartAsset only takes a few minutes, is totally free, and in many cases you’ll also be offered a free consultation. Lots to gain, nothing to lose. At least check it out.

Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”

2. Stop getting ripped off by your bank

If you’re banking at a traditional brick-and-mortar bank, you’re getting ripped off. They’re charging you for a checking account and paying a pittance on your savings.

Better idea? SoFi. They offer a combination checking-and-savings account, and if you set up direct deposit, you’ll currently earn a whopping 4.60% annual percentage rate. That’s eight times the national average.

Better yet, they pay you a cash bonus just for signing up!

Direct-deposit $5,000 or more within the first 25 days, you’ll get a $300 bonus. Direct-deposit $1,000 to $5,000, you’ll get a $50 bonus.

Other cool features:

• • Get paid up to two days early
  • No overdraft fees or monthly fees
  • Free use 55,000 ATMs nationwide
  • Free paper checks, if you want them
  • Deposits insured up to $2 million
  • Earn up to 15% cash back using your debit card

Banking has changed. Time for you to change with it.

Check out SoFi right now.

3. Stop paying an extra $610 for car insurance

If you want more money, stop wasting the money you have. Example? If you’re like most Americans, you’re paying too much for car insurance. But shopping around for a better deal is such a hassle.

Well, it used to be.

Now you can just check out Provide Insurance, the largest online marketplace for insurance in the U.S. Provide Insurance lets you compare quotes from more than 175 different carriers in minutes.

All you have to do is answer a few questions about yourself and your driving history. Then Provide will show you the best options for your needs and budget.

You could save up to $610 a year on car insurance by using Provide Insurance. That’s money you could use for other things, like investing, saving or paying off debt.

Don’t let your current insurer overcharge you. Try Provide Insurance today and see how much you can save on car insurance.

4. Stop letting home repairs drain your bank account

Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your castle can quickly crumble and cost you hundreds, or even thousands.

Unless, that is, a home warranty company has your back. Example? First American will protect you from giant bills by covering everything from home appliances to electrical, plumbing, heating and cooling systems — even pools and spa equipment.

They also allow you to customize your plan, so you only pay for what you need.

When something goes wrong, just call First American, day or night. The company has a network of prescreened technicians and typically dispatches an independent contractor within 48 hours.

Hey, if you’re handy and like to repair stuff yourself, that’s obviously the cheapest route. But if that’s not you, a penny spent now could save you big bucks later.

Get your free quote in 30 seconds.

5. Stop putting all your eggs in one basket

If a large part of your savings is in the stock market — as it should be — you’re well aware that what goes up can also go down. You can’t control the market, but you can hedge against uncertainty by having other forms of wealth.

One of the best ways to protect your savings is diversification. Keep money in different types of investments, ideally ones that go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.

But there’s one investment that thrives in this scenario: gold.

Be careful who you deal with, though. Some companies in the gold business are shady and won’t hesitate to sell you gold and silver at vastly inflated prices.

Rosland Capital, on the other hand, has been seen on Fox since 2008 and is recommended by William Devane. They have an A+ rating from the Better Business Bureau and an AAA rating from Business Consumer Alliance. They offer just about everything, from precious-metal IRAs to gold coins and gold bars.

You’ll even receive up to $15,000 in free gold on qualified purchases. If you’ve ever thought about investing in gold, check it out right now!

6. Stop paying full price for retail purchases

Are you over 18? Then you’re eligible to save hundreds of dollars every year simply by joining AARP.

“What?” You say, “I thought AARP was for retired people.”

As it turns out, you don’t have to be 50 or older to join AARP. And members get discounts on hundreds of things, like:

• Up to $200 per person off flights
• Up to 30% off rental cars
• Up to 15% off restaurants
• Up to 20% off hotels

You’ll also save on eyeglasses, prescriptions, meal deliveries and lots more. And that’s not all. AARP offers a Fraud Watch Network, job listings, retirement planning tools, games, and tons of information, programs and resources.

Anyone trying to save money can’t afford not to join AARP, especially since the cost is as low as $12 per year with auto-renewal. You’ll likely recoup the cost in the first week. Click here and check it out.

7. Stop ignoring your older self

According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.

“But won’t Medicare take care of all that?” Nope. Medicare doesn’t cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could scramble any nest egg.

Solution? Long-term care insurance.

One place to find it is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)

At least check it out and see if it’s a fit. Because a little planning today could mean a far more secure tomorrow.

8. Stop investing like a rookie

Why do people invest in stocks? Simple. Because over time, stocks beat the pants off bank accounts.

And why do people invest in stocks through Robinhood? Simple. Because Robinhood beats the pants off other investing apps. And that’s especially true of their new gold account.

For just 5 bucks a month, Robinhood Gold gives you:

• 5% interest on your uninvested cash
• 1% bonus cash on new, eligible deposits (no limit!)
• 3% IRA match on eligible contributions to your Robinhood IRA
• Instant access for deposits up to $50,000
• Professional research from Morningstar
• Level II market data from Nasdaq
• First $1,000 of margin borrowed is interest-free
• Up to $2.25 million in FDIC insurance

So, if you invest in stocks, bonds, crypto, options or anything else, check out Robinhood Gold. Do it now, though: That 1% deposit bonus isn’t going to last forever.

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