The key to financial freedom and comfortable retirement is how well you manage your money. Spending without a plan or buying on impulse can put a hamper on your retirement plans. By the time you decide to start saving, you would have racked up a ton of debt, and all your plans would go to waste. To avoid having regrets, here are a few pointers on how to effectively save and earn money.

Sorting out your Finances

The first step to financial independence is for you to clear your debt and sort out your finances. A company like Consumer Credit Card Relief (CCCR) is a full-service debt relief company that can help get you back on your feet financially. Their finance experts team will analyze your credit card debts, know your average interest rate, and the sum of monthly payments on your account. They also offer debt relief programs and will take you through settling your debts so that you can have a better credit score and be on the right path to building a steady savings fund. Does credit card debt cause you sleepless nights? Allow us to help you. Click here for more information.

Another service to help out with your finances is Privacy. With Privacy, you can take control of your payments by creating a virtual card for use online, which you can close at any time. It also allows you to assign spending limits on your cards to avoid charging above your budget.

For those looking for quick loans, there are options available for you. Viva loan offers fast access to funds required, whether big or small. Once approved, your requested amount is directly deposited into your account within the next business day. They also offer loans to people of all credit types, so you don’t need to worry about your credit score. 

Another noteworthy loan company would be OppLoans. When applying for a loan at OppLoans, customers are guaranteed that the application doesn’t affect their FICO® credit score. You can apply for a quick loan online, and the loans average a maximum of 199% APR.

Open A High interest rate savings account

When you’re done sorting through your finances, the next thing to do would be to find the best savings account with the best interest rates for you. In this regard, online banks usually offer better APY than regular banks, so they would be the best to choose from.

An AXOS Bank account is an exclusive account tailored specifically for seniors aged 55 and above. It has a No-Hassle Switch Kit that helps you navigate between accounts quickly, and its security measures are top-notch with an SSL encryption that ensure your account is well secured from criminals. The bank also offers a 0.20% APY on all balances, free personal checks, and ATM fee reimbursements of up to $8 per month.

CIT Bank offers a traditional savings route that boasts of some of the best retirement savings rates around. CIT customers can have all their account activities managed online, from paying bills to sending money to people and much more. CIT offers 0.50% APY for a 1 year CD, but you can earn up to 0.65% APY on accounts that sign up for the 13-month CD. If you’re in for the long run, CIT offers up to 95% APY on your accounts.

Empower is a smart way to earn, save, and manage your money. Its interface allows you to track your spending and get rid of any unnecessary expenses. It also has an autosave feature that lets you set a particular amount you want to save at intervals, so you never have to worry. With Empower, you get a 0.25% APY with no account minimum and a reimbursement of up to 3 ATM fees monthly with a maximum of $10 per withdrawal.

NorthOne is a simple and fast digital business bank account. They are mainly known for helping small business owners manage their money effortlessly. NorthOne enables you to get insight and full control of your revenue and spending. 

Its interface is designed for easy accessibility, anywhere in the world, and saves you time and, more importantly, money.

All these are great options to choose from, but to get better value for your money, banking with CIT Bank would be the best choice as they offer the highest APY rates.

Get a Financial Advisor for To Help You Invest your money

Saving money is great, but even with all the interest rates in savings accounts, having your money work for you through investing is still the smartest way to earn more money. Most people talk about investing but have little knowledge on how they can invest their money. If you’re confused or looking for tips on how to invest, getting help from the best investment advisor services should be your go-to. Sites such as The Motley Fool offers such advisory services, from day to day stock tips to steps on how to win at retirement. They also help you with finding a broker and expanding your investment portfolio to ensure you get the best out of their services. 

Personal Capital is also another platform that can help you out with your investment options. With their Investment Checkup tool, you can see how well your investments are performing and how they could do even better. You can also compare your current portfolio allocation to the ideal target allocation designed to minimize risk and maximize returns to meet your financial goal.

Open an Investment account

When it comes to investment accounts, M1 Finance is a fantastic option for you. Their financial platform allows you to invest, borrow, and spend, all in one place. All you have to do is set up your particular strategy, and they automate it for you, for free! You also get to enjoy high-yield checking and low borrowing rates.

Another excellent choice for your investment account would be Rocket Dollar investments. Its self-directed interface means you can track your investments directly from your dashboard and have total control over your investments. From opening for first Self Directed IRA to Solo 401(k), the service guides you every step of the way. They also offer the option to roll over the existing 401k or IRA to PocketDollar account.

Looking for more tips on how to retire comfortably and enjoy your Golden years? Or do you need answers to all your burning questions about retirement? Book a consultation with us today.