Throughout your entire adult life, you have probably been told that you should save for your retirement. However, no matter how old you are, life often gets in the way of your saving goals. From student loans after undergraduate or graduate school, to raising children, to the unexpected costs of day to day life, it is easy to feel as if you aren’t actively preparing for your retirement. Fortunately, there are a few key tips that you can implement to help you effectively maximize your retirement income with minimal effort.

Tip #1. Reduce Your Tax Burdens
No matter where you live in the United States; taxes are one of the unfortunate things that can eat away at your retirement income. Fortunately, there are a few key steps that you can take to avoid paying hefty taxes during your golden years. The potential steps to reducing tax burdens during your retirement include:

  • Opening tax-free retirement accounts, such as a Roth IRA.
  • Buying tax-free bonds.
  • Giving additional funds to charities.
  • Reducing living expenses.

Tip #2. Consider Low-Risk, High-Yield Investments
Did you know that there are several types of investments that can generate income throughout your retirement? From fixed annuities to real estate, generating guaranteed income throughout your retirement will help you to live a financially stress free lifestyle throughout your golden years. In this vein, it is important that you learn how to effectively diversify your retirement portfolio. A diversified retirement portfolio will help you to maximize your earnings with minimal effort. Additionally, the multiple sources of income will help you to afford your dream retirement lifestyle.

Tip #3. Lower Your Unnecessary Expenses
Maximizing your retirement income with minimal effort is made easier when you lower your unnecessary expenses. In fact, in the years leading up to your golden years, you should try to complete the following tasks.

  • If you are planning on staying in your current home, then you should consider paying off your mortgage.
  • Eliminate any and all credit card debt.
  • Reduce household expenses, such as the cable TV that you rarely watch or the weekend car that you never drive.
  • Get rid of any unused membership services that are costing you monthly or annual fees. Those $10 annual membership fees can quickly add up and are wasted money (especially if you are never using the services).

Tip #4. Delay Accepting Social Security Benefits
While it is tempting to start accepting social security at the age of 62, you can actually increase your income if you decide to wait until you are 70. If you decide to wait until you are 70 years old before accepting social security, then you can increase your annual income by an additional eight percent. This simple tip can help you to maximize your retirement income with little effort, all it takes is a bit of financial planning and patience on your part.

Tip #5. Save Extra Money. 
In the years leading up to your retirement you should try to save any extra money that you receive. Whether you receive a raise and want to maximize your employer’s 401(k) contribution, or you decide to invest your extra savings in a low-risk high-yield asset, there are several steps that you can take to maximize the impact of your extra earnings. Remember a key rule, if you spend all of your extra money, then you will have reduced funds during your golden years. By waiting a few extra years to spend that money, you can ensure that you live life to the fullest during your retirement.

The Bottom Line: Fortified Retirement Is Here To Help
Maximizing your retirement income with minimal effort is made easier through the above five tips. For additional help, you can learn retirement tax strategies as well as proven retirement income planning tactics at a Fortified Retirement workshop or seminar. To learn more about maximizing your retirement income through minimal effort, be sure to attend a free educational workshop.



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