Want to Recession-Proof Your Assets? Here Are 7 Ways To Do It

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Want to Recession-Proof Your Assets? Here Are 7 Ways To Do It

Photo by Olena Yakobchuk from Shutterstock

Fund your retirement with your greatest asset

Not all retirees are so lucky to hit their 60s with a comfortable retirement package. Between mortgages and other stressful financial responsibilities, many seniors didn’t have the chance of saving as much as they hoped to.

However, homeowners have this great weapon: home equity. For example, firms like American Advisors Group might help you tap into that equity with reverse mortgages, so you can enjoy your golden years peacefully and do all the things you ever wished for, whether it’s traveling, home improvements, or spoiling your grandchildren.

It will work like this: a company will refinance your place, or even pay off an existing mortgage, and give you a large portion of the proceeds. You might opt for a lump sum, a schedule of organized payments, or even a line of credit.

Don’t let broken appliances break the bank

For the record, home repairs are expensive. Whether it’s about a leaky roof or just a broken appliance, your home might become a nightmare and cost you loads of money to fix. However, don’t panic!

You can contact a home warranty company, and protect yourself from giant repair bills. A home warranty company might help you with these issues, from home appliances to electrical, plumbing, heating, and cooling systems.

Add 15% extra to your retirement nest egg

According to a study conducted by the Journal of Retirement, retirees who collaborate with a qualified financial adviser will definitely add 15% to their incomes in their golden years. However, there is no guarantee that a professional would actually do better than you, in case you’re that type of person who is open to learning how to manage money.

Besides investment advice, a financial adviser could also help you create a steady plan, maximize your Social Security, protect your assets and offer you the peace of mind you need, by making sure you’re on the right track.

Thanks to a completely free matching service, it could be a lot easier for you to find the perfect professional in your area. All you will have to do is to fill out a short questionnaire, and you’ll immediately match with minimum of three local fiduciary financial advisers.

The process will take only a few minutes, and in most cases, you will immediately connect with an expert for a free retirement consultation.

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