Four Quick Tips to Simplify Your Retirement

Once retirement finally arrives, and you’re busy living life to the fullest, the last thing you want to do is work on mundane organizational tasks. How can you ensure these obligations are minimized, so you can focus on leisure? Scott Nelson, CFA®, CFP®, Senior Wealth Manager, shares four quick tips to simplify your retirement.

1.  See the big picture with an account aggregator

Something you probably should have done years ago is use an account aggregator to track your entire financial picture. An account aggregator, like our WealthNAV™ planning software, is a good way to track your spending and see all your account balances in one place. When you see the big picture, you can visualize your goals, balance your competing priorities, and implement strategies to make the most of your retirement finances.

2.  Get better acquainted with your spending

Account aggregators, like our WealthNAV™ system, help you to be more aware of your spending habits and find opportunities to save money. Another place to look for savings is those automated payments for subscription-based services that you are no longer using. Review your monthly spending and identify what recurring expenses are necessary, and what can be cut out. Soon, you’ll have more money in your pocket and fewer transactions to account for. Looking for help with your spending and saving? Ask your wealth management advisor to give you a hand.

3.  Use a password manager

Our modern online world requires us to have numerous passwords and usernames. If you have trouble keeping track of them all, consider using a password manager program. Password managers can make the online world more manageable, while improving your defense against hackers. Password managers also typically allow you to organize your passwords into different uses, which can make it easier for someone to handle your financial affairs should unforeseen circumstances keep you from managing them on your own. A trusted wealth management advisor can help you prepare for such contingencies.

4.  Get digitally organized and go paperless

Retirement often involves downsizing and cutting down on the clutter. Utilizing digital tools and going paperless helps you eliminate a lot of clutter, so you can stay organized. Many folks resist going paperless due to their lack of comfort with computers. However, there are plenty of community education classes that can help improve your computer and organizational skills. The trick is to keep only what you need—ask your wealth management advisor for help determining what should be saved, and what can be scrapped.

Helping You Get There…

Instead of spending time on menial tasks, these simple changes can help you keep your focus on enjoying your retirement. To learn more or meet with a Boulay wealth management advisor, connect with us today.