Follow these 4 easy tips to save in your retirement
With 11,000 boomers turning 65 every day in 2011 , the number of retirees will hit an all time high. Many of our new medicare supplement clients are looking for ways to stretch their monthly budget . With the life expectancy of the boomers expected to be the longest in history , it is easy to see why our clients are concerned .
Our client recommended 4 easy ways to reduce your monthly expenses that don't involve living in a cave or collecting cans for recycling (smile).
- Make sure you have the best supplemental medicare insurance plan: You can compare medicare supplements and medicare advantage plans to see which one is sound for you. Since we are an independent agent, we can quickly help you compare plans from all companies in your area . This can often save $150-$175 per month per couple.
- Get quotes on your home and auto insurance policies : When you turn 65 most companies realize you are less risky to insure so they offer super discounts . Use a quality independent agent and see how much you can save. We have seen many clients cut $100 or more off their bill each month.
- Drop your home land line and use your cell phone : If you use a cell phone and never go over your minutes, you might be able to drop your land line and save $50-$80 per month. Make sure this won't cause issues such as effecting your alarm system or other medical warning device systems . But this works for a lot of our customers.
- Take money out of low rate CDs and move it to a good fixed annuity : If you have money in a CD that you will not need to touch for 24 months , you can usually double the return on your money by moving it to a simple fixed annuity. This is not going to save you money each month, but over 24 months you will have an extra $1500 to $2000 in interest earning on $25,000 in principle.
With just these 4 tips you could have an extra $7000 in your pocket after 24 months ! Not bad for a few changes that don't have any effect you your quality of life or daily activities .
For more information about medicare supplement insurance or any other type of financial protection, don't hesitate to contact one of our medicare insurance specialists. They are always ready to help!
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