The economy has been rather volatile in the last handful of years. With constant changes, the COVID-19 pandemic and global shutdowns, the state of the global economy has seemed less stable than it has in decades. And during times like these many investors, particularly those nearing retirement who won’t have time to make up losses in their portfolio, begin to wonder if they should move their investments into precious metals. There are advantages and disadvantages to this, of course, which you may not know about yourself. Here is a quick look at whether precious metals are a good investment!

Precious Metals, Explained

Precious metals are the metals that are most rare and consequently highest valued in the world. Gold, silver, and platinum are among the most known precious metals. These were the metals that served as the first and longest lasting currency units in the world. Today, gold, silver, and platinum serve both vanity purposes in jewelry, and as industrial resources used in cars, electronics, and batteries. This can cause all sorts of price fluctuations, particularly silver and platinum, because investment is not the only source of price influence exerted on their prices.

When You Should Have Precious Metals

The best time to own precious metals is during economic downturns and periods of high inflation. The great thing about precious metals is that you cannot just make more of it, in the same way that governments can print more money. This makes precious metals relatively inflation proof, as they are a stable commodity. Gold typically rises during economic downturns and during times of inflation. This makes gold and other precious metals a great addition to your portfolio to mitigate risk and make your portfolio less volatile, as they have intrinsic value in the way that stocks or bonds do not.

Do Precious Metals Belong in Your Portfolio?

Well, the short answer is probably yes. Almost certainty you should have precious metals in your portfolio, especially as you are nearing retirement, because they are very stable investments that see less price fluctuation and can help protect your other investments from economic downturns by hedging your bets. You should think about buying precious metals when the economy is doing well, and inflation is low. This will allow you to buy low and see improvements when the economy takes a turn and gold consequently rises.

Precious metals are a great investment for most investors everywhere. Precious metals have been a medium of exchange and investment since they were first discovered by humans and maintain their value to this day. Consider diversifying your portfolio with some precious metals.

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Are you saving up for retirement? Starting your retirement funds at any and every age is a good thing to do. You’ve possibly wondered, though, what you’ll do during retirement. A leave from the work environment sounds nice, but the actuality of it is a lot of empty days to fill. The answer to making your retirement fun is simple—try new things! Whether you’re thinking ahead or in the midst of a lackluster retirement, these ideas can help you to reimagine your golden years.

Take Up New Hobbies and Interests

One way to make your retirement more exciting is to start new hobbies and interests. Developing new hobbies and interests is not only fun, but it also will help you have a healthier, more active, more fulfilling life once you’re older. Hobbies help you to get out of the house, especially when you have no other reason to. They also help your mind stay sharp and consequently preserve your quality of life. So, when planning for your future retirement, decide on a few skills you’ve always wanted to learn but hadn’t had time for. Then, when you’ve retired, find classes, books, or social circles to help you get invested in a new interest.

Retire Abroad

Another great way to make retirement fun is to retire abroad. Doing so would be extremely exciting. You and your spouse, if applicable, could purchase a beautiful home in another country and spend your days and evenings exploring the vast history and culture of the area. In many Latin American countries such as Mexico, your dollars go further to fund the lifestyle you want. So, your dollar might be worth more depending on which country you decide to settle in.

Remodel Your House

Lastly, to make your retirement more exciting, you can remodel your house. Maybe you’ve always wanted to redesign your house a certain way but haven’t had the time to do it, or maybe you’re just tired of looking at the same thing for years. Once you’re retired, however, you have all the time you need to find quotes, draw up plans, choose paint colors, and more. So, get excited to finally design or add to your dream house once you’ve retired.

Retirement can sound exciting or boring, depending on your plans for it. Maybe you’re excited not to have the stress of work every day, but maybe you’re also nervous that you’ll run out of things to do. So, make your retirement more exciting: develop new hobbies and interests, move to another country, and make plans to remodel your house. Doing these little things can help you continue to have a fulfilling, enjoyable life.

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Medicare can be lifesaving. It provides many people with coverage they need to be able to lead healthy and full lives. However, Medicare doesn’t cover everything, and it’s important to know what is and isn’t covered by your basic Medicare policy. When you understand the coverage you don’t have, you can make choices to decide whether or not to supplement your basic Medicare policy.

Prescription Drugs

Some people don’t realize that while Medicare will cover many of their appointments and procedures, it doesn’t cover prescription drugs. If you take prescriptions regularly, especially expensive prescriptions, you may want to pay for Part D which can supplement your Medicare by covering important prescription medications. Even if you don’t have expensive medication needs now, Medicare Guide says it is worth it to at least buy a small Part D plan so that your medications will be covered if you need them in the future. Prescription medications can be really expensive, and without coverage, they can really add up over time.

Dental Health

It’s also important to note that Medicare will not provide you with dental coverage. This kind of coverage is essential if you want to keep your teeth in the best possible condition. According to Maccaro Orthodontics, you may be more prone to cavities if you have a poor diet or you have certain genes. Luckily, you can generally find affordable dental health plans if you take the time to look around for them. Most dental plans will cover your semi annual checkups and up to a certain dollar amount of dental work per year.

Hearing Aids 

One major issue with Medicare plans is that they don’t cover hearing aids or the appointments leading up to receiving hearing aids, except in particular situations of severe hearing loss. According to Medicare Interactive, this means that you may be responsible for paying for your hearing aids and appointments on your own. Getting a supplementary insurance plan can help you to get that additional coverage if you suspect you might need hearing aids now or in the near future. Talk with an insurance broker to find a supplemental plan that is affordable and helps you to meet your needs.

Medicare can cover many of your health-related costs, but there are some things it simply doesn’t cover. It’s important to make sure that you have appropriate supplemental insurance to take care of everything else. If you aren’t sure what other insurance you should purchase, talk with your doctor about what medical coverage you may need in the future.

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If you’re hoping to be able to retire before the age of fifty, or, well, ever, it’s time to get serious about the investments you’re making. You have to know what money you have and where it’s supposed to go. It might seem like a pipe dream, or purely imaginary to be able to retire, but there are some ways which can help. How can you pursue an early retirement before the age of fifty?

Use the Roth Conversion Ladder

The Roth Conversion Ladder is a smidgen confusing, but if you’ve got a 401K, it’s important to understand it’s available. Basically the idea is to avoid taxes by adding your money to a 401K…but this has an issue. If you take money out before you are sixty, the government takes ten percent off the top. This, obviously, you’d like to avoid. If you instead choose to use the conversion ladder, Modest Money explains that you would move money from a regular 401K, to a Roth IRA 401K, and then be able to convert that to money you can use in about five years!

Invest in Real Estate

Investing in Real Estate is a tried and true method of building wealth. According to J Bixler Inspections, getting a property inspected before closing can help you avoid major issues. Research can determine what areas locally are growing fiscally. You want to find a great property management group to help you as well. This is like finding an excellent personal assistant to help you manage all of your time and money. Trying to do everything yourself with multiple properties is too complex and time consuming.

Know What You Need

In order to consider retirement, you need to know what you specifically will need in order to retire. This means a good amount of math, knowing what you have both in savings and investments, and knowing what you will need later on. If you plan to retire early, you will need more money saved than the average couple who retire at age fifty five, according to Synchrony Bank, and need just around 400k to last them their remaining years.

With people living longer, and having a higher quality of life for a longer period of time, you want to be able to have a good buffer of funds which can last you past your eighties. Save your time for things you enjoy, and find an assistant. Use the Roth Conversion Ladder, and build up that savings!

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Retirement can be a luxury. However, to make this luxury possible, you’ll need to plan ahead, especially in regards to where you want to live. Below are some things you should consider when deciding where to retire.

Taxes

When deciding to retire, you’ll need to consider how much property tax you’ll pay. Every state has different taxes. So look into how much you’re going to pay in each state before deciding to live there.

You’ll also need to consider how much you’ll pay in taxes when you withdraw money from your traditional individual retirement account. Taxes may have gone up since you put your money into the account, so you’ll have to pay those increased taxes when you withdraw your money. This can affect how large of a home or property you can afford. If you have a Roth IRA, then this likely won’t apply to you because you already paid taxes when you put your money into your account.

Proximity to Health Care

As you age, you’re likely to encounter more health risks and chronic illnesses. This is a fact of life that many retirees face. So you should find a home that is close to health care. That way, you won’t have to drive far when you’re in an emergency.

If you’re close to health care, you can try TMS therapy. TMS therapy is non-invasive and doesn’t use medication like traditional depression treatment. This therapy impacts the brain to help with depression. So if you already have depression and know you’ll still face this mental challenge during retirement, be close to health care.

Proximity to Family

After retiring, you’re likely to miss out on the social life you had before, whether that was through the community or through work. You may be the type of retiree who doesn’t want to leave the house that often or is unable to due to health reasons. This is why proximity to family is important when considering a home.

If you’re close to your family, they can come visit you and vice versa whenever you’re looking for social interaction. You can see your family and descendants grow and mature. You can also pass on your stories to the next generation, so your legacy won’t be forgotten.

Before retiring, consider what your future will be like. If you don’t like your prospects, change them before being out of a job. Unsure of what steps to take? Consider talking to friends or family who have already retired and see what steps they wish they had taken when retiring.

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No one plans for bad things to happen, especially when it comes to limiting your ability to provide for yourself. Unfortunately, things can happen in an instance, and you may end up in a situation that severely injures you. These injuries may even prevent you from working. If this is the case, you may be worried about how to get by financially. 

Consider All Your Assets

The first thing you should do is look at all of the assets you currently have. This can include your home, vehicles, land, valuables, etc. All of these are worth something and they can be used to help you get by. There are also many financial assets you may have including stocks, bonds, and other investments. If you’ve invested in real estate, you can use your rental income to help you get by. You should take a thorough inventory of your assets. Determine their worth and then make a plan for how long you can use them to get by. If your assets are limited, now is the time to think about some investments that can allow you to continue making money. 

Apply for Disability Benefits

While having a serious injury that prevents you from working can be stressful and difficult, there is some hope. There are many programs put in place to help people in your situation. You can start off by applying for disability benefits. Typically, disability benefits are given to anyone with a medical or physical impairment that prevents them from working. You usually need to wait 6 months before qualifying for long-term disability. In addition to disability benefits, you can look into compensation from your private insurance. Depending on your coverage, you may qualify for compensation that covers you if you are unable to work due to injury. 

Find a New Source of Income

You may not be able to continue at your current job, but that doesn’t mean there aren’t other jobs you can still do with an injury. Now, there are many jobs that you can easily do remotely from your own home. For example, you could work as a freelancer. You can do anything from writing to taking pictures to making audio recordings. There are lots of other things you can do like renting out a room in your home, selling products online, and even participating in studies or surveys. Working while injured may not provide a lot of luxury, but it can still help you get by. 

Being injured and forced to retire can put you in a hard situation. It can throw your entire life plan off track. However, there are still ways you can provide for yourself and still get by financially.

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While we trust our insurance companies to protect us and look out for our interests, sometimes that trust is betrayed. If you have been burned by an insurance company in a real way, you do have the choice to take legal action. Seeking justice is possible if you have time, patience, and the right attitude to see it through.

Collect Enough Evidence

The first thing you should do if you want to win your case is to gather your evidence. This could include correspondence by way of email or notes from phone calls, any accumulated bills or notices in the mail, and payment receipts. This evidence will help you build a timeline to tell the story of what transpired between you and the insurance company. Be sure to also have copies of your insurance policy on hand. Keep all of this evidence collected in one, organized physical or digital location for ease of access and sharing.

Don’t Try to Win Alone

It can be a huge challenge to try and fight and win your case on your own without good representation. You can increase your chances of winning a settlement with an attorney representing you. Do some research on who the top attorneys are in your area who represent clients on your type of case, or ask family and friends for recommendations. Be selective to see who is really there to represent you and get you the best outcome. The process of suing an insurance company can be long and arduous, but working with a lawyer who you respect and trust will be a huge asset to you in streamlining the process. 

Be Prepared for Fees

In addition to paying your lawyer to represent your case, you may also need to pay a filing fee in small claims courts. These fees vary based on your location, and your attorney should be able to help you understand these fees and when they need to be paid. Once the lawsuit is prepared and filed, you will also have to pay serving costs, which is when you notify the insurance company that they are being sued.

As you go through this experience, be sure to also keep records of documents you receive during the review process. Successfully suing an insurance company can take a significant amount of time, so try and be patient and lean on your support system throughout. Receiving justice will be all the more rewarding once you have made it to the other side having done all the right things.

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Even the best or most diligent safety precautions can’t prevent unfortunate accidents from happening to your property. If you or someone you know has been a victim of an accident but is struggling to get their due compensation from the guilty party, here are a few things you can do to make sure those individuals are held responsible.

Build Your Case

According to Jay Sekulow, having full, detailed information to present to a judge is the most important thing you can do to receive all of what you deserve. As soon as possible following the accident, write down everything you can remember about the situation. Exact times of day, environmental factors, license plate numbers or descriptions of the people involved and the things they used (like automobiles, tools or weapons, etc)—anything that can paint a complete and accurate picture of the event will be your best resource for legal dealings. Collect evidence or witnesses that will corroborate your timeline and the details you make note of. Once this full story has been created, research the legal responsibilities of you as the victim and of the guilty party.

Discuss Your Options With a Lawyer

A lawyer may be necessary (or at the very least, helpful!) to this research and understanding of research that is required for your case to come to fruition. Counsel with a lawyer on your rights, the rights of the guilty person or persons, and the steps it will take for you to receive the settlement you deserve. According to Rogers Beltran, you may not even be aware of the amount of or variety of elements that qualify you for a settlement! You may be able to collect compensation for lost income, pain and suffering, and more. Without the help of educated and trained professionals that know what to look for and how to get the most out of a case, you may be shortchanged in the actual value of your accident payoff.

Act Immediately

Don’t wait around for things to be taken care of. According to Nolo, accident cases require persistence. In addition to collecting the data and details of the event, collect the guilty party’s information if at all possible. This is the best way for you and them to eventually reach the best deal. Remaining calm while asking for their information ensures a better chance of cooperation from that party, and your endurance in making sure the case is not tabled and forgotten will grant you your compensation in a timely and efficient manner.

If you have the misfortune of being the victim in an accident of any kind, make sure that guilty party is held accountable and that you receive the compensation you deserve. Be persistent, thorough, and patient with the guilty party, and you will receive the best outcome.

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It’s an ideal time to sell, especially if you have a place lined up to move. But, like anyone who has lived in one home for a few years, your home needs to have its “best foot” forward, and you need to know what will help you in the confusing marketplace. What’s the best way to get a better price for your house, when you’re ready to sell?

Work With an Agent

Using an expert for an expert job is always a great idea and using an experienced real estate agent to sell your home is no different. According to Maximum Exposure Real Estate, a good agent knows how to help your home be presented properly. They can even help with staging and photography. They tend to have contacts with those who need to buy quickly, and who are buying for the best prices for you, as well. It doesn’t save money when you sell on your own, because of the extra work and coordination, and also because of the additional buyers who only look at agency homes.

Fix Issues

There are no homes which, after decades of family life, don’t have any repairs or changes which need to be made before sale! Your agent will help by contacting an inspector who can look at your home from top to bottom. According to J Bixler Inspections, it’s best to be present for an inspection so you can take notes on any issues they find. You want to be able to find excellent contractors who can help you to make any necessary repairs.

Understand Local Trends

It’s a hot market right now, and you want to be able to make the most profit possible on your home. This means following and understanding what local trends are doing. A swing of five percent doesn’t sound like much, but when you’re talking about hundreds of thousands of dollars, it could mean tens of thousands lost if the house is not priced, staged, and sold properly. According to Homelight, it’s important to know if your market is rising or falling, of course, and whether you should press for sale now or wait for better offers.

If you’re going to sell your investment, the best option you have is to do so with your eyes wide open. Make sure to get specialized advice to make sure you know about the local marketing trends with homes. Pretty soon you’ll be ready for all of the opportunities around you.

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If you are like most people, you probably are looking forward to your eventual retirement, but you may be a little worried about making sure things are paid for. Having a good idea of how you will take care of your needs during retirement is essential to good planning. One thing you should be sure to keep in mind is the way you can use your home equity in retirement to help make it even better.

Downsize and Invest the Rest

If you have paid off your home and are looking to move smoothly into retirement, one option is to downsize your home. By selling your home and purchasing a smaller home, you can use left-over equity to create a strong investment portfolio. That way you have less home to take care of and have investments that can continue earning you money for the future. As you look for a new home to downsize in, it is worth considering the ways you hope to live as you are retired and choose a new home that best fits your needs.

Fund Home Improvements

When you’re retired, you will probably spend more time at home than you did when you were working, so your home must suit your needs. You can use your equity to make necessary home improvements that will make your home even more usable and amazing. Making changes like investing in solar power can also help you to save money each month. In many states, solar panels are exempt from property taxes. That means you can improve your home’s efficiency without increasing your taxes.

A Reverse Mortgage

For some retired adults, a reverse mortgage can help them to use their equity for income while in retirement. This method is not a good choice if you want to leave your children with home equity, but if that isn’t a concern it can be a great way to add more to your retirement. Essentially you will be slowly paid out for your home while you continue living in it as a way to continue making money throughout retirement.

Your home can help you to get even more out of retirement if you know how to use it appropriately. That way, you can spend your retirement doing the things you have been looking forward to instead of worrying about getting your bills paid. Your retirement should be a comfortable time where you are in control of your future.

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