Direct & indirect opportunities than don’t get enough ink.  – Reeve
Besides periodic IRA contributions and elective salary deferrals into 401(k) and 403(b) plans, there
are other ways to amass retirement savings, some of them often overlooked.
Put tax refunds & tax savings to work.
If you get a few hundred back from the IRS, that is not an insignificant sum.
You could save it or you could invest it with the potential to compound that
money. The same goes for the dollars you save as a result of tax credits or tax

Relocation. Ever thought about living where lifestyle costs are less? Moving to a cheaper part of the country might cost
you a few thousand dollars, but the long-run savings could end up dwarfing that
expense; you could free up thousands of dollars annually toward your retirement
savings effort.

As an example, Zillow’s Q3 2012 Home Value Index showed the median home value in
San Jose as $525,000 and the median home value at $356,100 in Boston. A San
Jose resident could move to Reno (Q3 median home value: $145,700) and a Boston
resident could move to Nashua (Q3 median home value: $186,300).1,2,3,4

You could also downsize as you relocate; moving into a smaller residence could free
up even more cash.
Rental income. While property management means occasional headaches even when a third party assumes
the duty, a steady stream of income from a rental home or condo may give you
another solid way to ramp up your savings efforts.
Redirecting some of your inheritance.
If you receive any kind of wealth, think about assigning part of it to your
retirement strategy. In fact, this is a good idea for any kind of sudden wealth
you come into, whether it comes from a relative, a settlement, a casino, or simply
your own talent and initiative.
Sell products or services, not simply your time.
Most people sell their time for money. One of the characteristics of the
wealthy is the entrepreneurial ability to sell products and services with a
value indirectly related or unrelated to a time investment. Consider what
products or services you could sell to make more money and build greater
retirement savings, with the possibility of positively altering the way you
work and live. The start-up costs of such a move may be less than you think.
Stay healthy. Hospitalization costs can be a
real setback for retirement savers. Good health (indirectly) pays off as we
age. Reasonable daily exercise and smart eating may help to reduce the risk of
major hospital, drug, and therapy expenses between now and retirement.

Halt or modify some recurring discretionary expenses.
Do you really need cable? Do you have to belong to the most opulent health club
in town? Must you have season tickets? Fewer such expenses today can translate
to additional money you can invest and save for your future.
Refrain from picking up your child’s college costs.
If you started a college savings account long ago, that’s a different story;
you have already dedicated money for this purpose. If you haven’t, remember
that no one offers “retirement loans” or “retirement financial aid”. Your son
or daughter may have a decade or longer to repay a college loan, and their
incomes may rise significantly during that time. If you elect to pay some of
their tuition or housing costs, you have comparatively fewer years to recover
from the impact of those expenses. Encouraging self-reliance can lead to you retaining
more of your savings for the third act of your life.
This material was prepared by MarketingLibrary.Net Inc., and does not necessarily
represent the views of the presenting party, nor their affiliates. All
information is believed to be from reliable sources; however we make no
representation as to its completeness or accuracy. Please note – investing
involves risk, and past performance is no guarantee of future results. The
publisher is not engaged in rendering legal, accounting or other professional
services. If assistance is needed, the reader is advised to engage the services
of a competent professional. This information should not be construed as
investment, tax or legal advice and may not be relied on for the purpose of
avoiding any Federal tax penalty. This is neither a solicitation nor
recommendation to purchase or sell any investment or insurance product or
service, and should not be relied upon as such. All indices are unmanaged and
are not illustrative of any particular investment.


1 – www.zillow.com/local-info/CA-San-Jose-home-value/r_33839/

2 – www.zillow.com/local-info/MA-Boston-home-value/r_44269/

3 – www.zillow.com/local-info/NV-Reno-home-value/r_13478/

4 – www.zillow.com/local-info/NH-Nashua-home-value/r_33031/