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Sliding into Financial Fitness: Unlocking Time, Money, and Fulfillment for a Breezy Retirement

1 min read
Our goal is to give you the tools and confidence you need to improve your health and finances. Although we may receive compensation from our partner insurance companies, whom we will always identify, all opinions are our own. CoverRight Inc. and CoverRight Insurance Services Inc. (NPN: 19724057) are collectively referred to here as "CoverRight".

Thinking about dialing down your full-time hustle, becoming an empty nester, or riding into the sunset of retirement? Well, buckle up because we’re about to unlock some serious time, money, and value in your life!

Step one on the road to retirement awesomeness is getting a handle on your future. Think lifestyle, family travel, planned activities, and those sneaky medical costs. Once you’ve got the lowdown on what makes your retirement heart tick (and the price tag attached), it’s time to kickstart your game plan to unlock the good stuff.

Unlock these 5 strategies to make your future brighter and more financially fulfilling.

Strategy #1: Regular Portfolio Rebalancing

It’s like adjusting your surfboard position on the financial waves! Annual portfolio rebalancing keeps you cruising smoothly. Shift from the wild highs of stocks to the chill lows of bonds as you ride the retirement wave. Go with the flow and unlock the perfect balance!

Strategy #2: Conservative Withdrawal Rate

Ever heard of the “4% Rule”? It’s your golden ticket to withdrawing without worry. While 4% might not be your magic number, it’s a nifty benchmark to keep things cool. Remember, less than 4% a year keeps you far from financial stress (and that’s advice gold).

Strategy #3: Proactive Management of Healthcare Costs

Time to surf the Medicare waves like a pro! Enrollment periods are your secret weapon. But hey, the party doesn’t end with the Annual Enrollment Period. If you’re on a Medicare Advantage plan by January 1, 2024, catch the wave of opportunity with a one-time switch during the Medicare Advantage Open Enrollment Period from January to March. Details matter, my friend!

Strategy #4: Use a Retirement Calculator

Ready to ride the numbers? Retirement calculators are your GPS for the financial journey. Input your details and get a sneak peek into your retirement adventure. And guess what? Retirable.com is here to be your financial surf guide. Get a personalized financial plan for free—because unlocking the future should be a breeze!

Strategy #5: Put Money into a High-Yield Savings Account

Time to maximize your cash and ride the high-yield savings wave! Pick your high-yield savings account, set your monthly savings goal, and watch your cash balance surf to new heights with up to 5.12% APY. It’s like earning more by doing less—because who doesn’t want financial gains on autopilot? So, there you have it—the ultimate guide to unlocking time, money, and value in your retirement journey. Say goodbye to the daily grind and hello to the thrill of financial freedom. Ready to unlock the hidden treasures of your golden years? 🚀💰🌴

Joseph Loren

Joseph Loren is Head of Product at CoverRight and also an expert on mental health, behavioral science and personal finance having worked at leading companies such as American Express, Cogni and Nurosene. Over 10 years experience in human-centered design and lean software development, health technology, financial services, data privacy, AI, and other industries.

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