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Living to 100 is expensive, however taking some time to go through this annual list will help you afford it.

Here are 17 steps to a more safe and secure monetary life.

1. Analyze your spending.

Analyze your spending over the last month to see where your money is going and where you could be able to cut back to include more to your cost savings.

Many banks offer free money tracking with online accounts, and money-tracking tools such as Mint.com make it much easier to follow the dollars, too.

2. Get a number you wish to save for your retirement.

Calculate just how much money you wish to have actually saved before you retire (online calculators can help).

For a shortcut, multiply your present annual income by 12. Find out how close you’re to reaching that goal and what’s to alter, such as working longer or conserving more, to reach it.

3. Look at your investment charges.

Check up on the financial investment fees you’re currently paying with your pension and consider whether it makes sense to move into lower-fee funds.

Try to conserve as much money whenever possible.

4. Take advantage of your tax breaks.

Make sure you’re benefiting from all tax breaks available to you. Retirement cost savings accounts such as 401(k)s and Individual retirement accounts provide a range of tax advantages.

Check with your human resources department to see if there are any worker benefits you are not benefiting from.

5. Balance that portfolio!

Balance your portfolio once a quarter to see to it it shows your current age and perfect danger level.

For a 30-something, that could mean 70 percent in stocks and 30 percent in bonds and other, more-conservative securities.

For a 60-something, it could indicate the reverse combination.

6. Look at the way you live.

Explore way of life changes that might improve your individual savings rate.

Does it make sense to cope with other relative in a cross-generational family?

Will it make sense to do so in the future?

If you can save some cash by living at home to pay off loans, then doing this.

7. If there’s a will, there’s a way!

Write a will at some time in your 20’s or 30’s, and also think about producing durable power of lawyer and health care proxy files.

You’ll be in good shape later in life understanding you’ve a plan of action currently in place.

8. Be insured for your household’s sake.

Make sure you’ve a suitable amount of life insurance, especially if relative rely on your income.

If you or an enjoyed one all of a sudden die, you want them to be financially safe and protected so they can remain on their feet even after a tragic loss.

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9. Save till you are pleased.

Increase your savings rate gradually until you reach your goal percentage. For a 20-something without a pension, the objective percentage could be 20 percent of one’s income.

Automate savings through your bank accounts or paycheck.

10. Minimize debt.

Minimize the quantity of financial obligation that you bring, specifically high-interest debt, such as charge card debt. If you do lug such financial obligation, make a plan to boldy pay it off.

If you don’t pursue your financial obligation immediately, it could wind up weighing you down for the rest of your life.

11. Factor in the family.

Review the support you currently provide to family members, such as moms and dads or grownup kids, and consider whether it’s negatively affecting your very own monetary security and ability to save.

If it is, think about whether it makes good sense to supply such comprehensive support, or if there’s an option.

12. See if lasting care is ideal for you.

Consider whether you need to get long-lasting care insurance coverage.

Those with assets worth more than $50,000 may discover that lasting care insurance coverage permits them to manage assisted living or nursing-home care, should they need it.

13. Take a look at a pension option.

Investigate whether buying an annuity would provide additional monetary security in the future.

People without pensions can take advantage of the steady payouts that annuities offer.

14. Stay working after retirement.

Develop a plan to continue working in retirement, whether it’s in your existing field or a brand-new one.

If you’re approaching retirement, start taking steps to execute that strategy, such as getting more training or certifications.

15. Utilize your pension power.

Maximize Social Security payments by postponing benefits up until age 70, if possible.

If you can wait it out with your saved cash, and by working even when you retire, you’ll have the ability to make a lot more from the government and actually flourish in your golden years.

16. Does charity make sense?

Consider if you wish to donate any cash to charity and if so, make plans to do so.

You might get great tax breaks if you donate properly, and possibly you might go the Bill Gates path and contribute billions.

17. Avoid the scams.

Guard yourself versus scams by staying clear of offers that sound too great to be true, sharing your Social Security number and other individual details online or with unfamiliar people, and reporting any suspicious charges on your bank accounts or charge card.