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New research by the Federal Reserve shows that an astounding one in four
Americans (including the 27% who consider themselves retired) have absolutely
nothing saved.



And even if you have something tucked away, it may not be enough — though that
is something you can change even late in the game.

A Vanguard study found those between 55 and 64 held an average of roughly
$256,000. But this includes high income earners; breaking the figures down, it
shrinks to a median of about $90,000.

It’s never too late to start putting cash aside — so here are three tips to grow
your nest egg.


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TALK TO A PROFESSIONAL ABOUT YOUR FINANCIAL SITUATION

If you're worried about your nest egg, finding a trusted financial advisor who
knows your retirement goals inside and out can give you peace of mind.

There are free online services that are designed to match you with experienced
professionals based on your unique needs.

WiserAdvisor, for example, can pair you up with a pre-screened advisor to match
your financial needs.




You don’t have to navigate your retirement savings alone, and you definitely
don’t have to do it without a vetted financial advisor at your side.



Once you're matched, consult for free with no obligation.


PROTECT YOUR NEST EGG WITH A STABLE ALTERNATIVE

With the economy in such a volatile state amid high inflation and stock market
uncertainty, your 401(k) or IRA — and your retirement itself — could be at risk.

A Gold IRA is a great alternative to protect your future. Unlike the U.S.
dollar, which has lost 98% of its purchasing power since 1971, gold’s purchasing
power remains stable over time.

Birch Gold Group is a reputable precious metals dealership offering IRAs and
direct purchases of precious metals and coins.

While inflation is increasing everyone’s expenses, precious metals won’t be
affected — so a Gold IRA might be the best thing to preserve your retirement.

Read more: Thanks to Jeff Bezos, you can now use $100 to cash in on prime real
estate — without the headache of being a landlord. Here's how




EXPLORE BETTER INSURANCE RATES

It’s not uncommon for people to take what they’re given when it comes to
insurance rates. But the truth is, you could be wasting away a solid nest egg by
overpaying for your coverage.

SmartFinancial is a platform where you can compare home insurance rates in your
area. All you need to do is answer some quick questions about yourself and
they’ll instantly sort through over 200 insurers to find you the best rates
available and any discounts.

According to data from Forbes, the national average cost for car insurance in
2023 is $2,118 per year, or $176.5 per month.

But, depending on which state you live in, your driving history and the make and
model of your car, there are some insurers that can offer you as little as $22 a
month for insurance.

Luckily, Pretected, makes it easier to for you to comparison shop instantly.
Choose the best available car insurance quote for you in minutes.

They do all the work for you so you can shave your monthly insurance bill and
put that extra cash into your future.


WHAT TO READ NEXT

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   knowing. Here are the 2 simple techniques that made Ronald Read rich — and
   can do the same for you
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   you may want to do the same in 2023
 * How can I stop the pain and make money in this nightmarish market? Here's 1
   simple way you can protect your nest egg

This article provides information only and should not be construed as advice. It
is provided without warranty of any kind.




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The U.S. housing market is in for a prolonged slump, according to at least one
expert.

In a recent interview with Fox Business, ProChain Capital President David Tawil
discussed the Federal Reserve’s ongoing battle with inflation and why a
prolonged period of high interest rates could “crush some very
interest-rate-sensitive industries, such as real estate.”


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Tawil predicted a “multiyear, maybe decade-long fallout,” starting with
commercial property and spilling over into the residential sector later.

“Housing has been incredibly strong despite all of the turmoil going on with
respect to rates,” he said.

“There will be a fallout.”


TAWIL’S THESIS




“I think rate hikes are on the horizon,” Tawil said in the interview. His thesis
is based on the fact that core inflation – the surging price of goods and
services excluding volatile elements like food and fuel – have proven stickier
than expected.



Whereas overall inflation cooled to 3% in June, according to the Fed’s latest
numbers, the core consumer price index (CPI), which excludes food and energy,
remained elevated at 4.8%. This measure has been persistently and stubbornly
high for the past few years.

Read more: Thanks to Jeff Bezos, you can now use $100 to cash in on prime real
estate — without the headache of being a landlord. Here's how

In a recent study, researchers from the Federal Reserve Bank of San Francisco
went a step further to explore what they call “supercore inflation,” which
excludes the prices of food, fuel and housing. The researchers speculated that
this subcategory of price pressure could be persistent, even if the job market
cools down.



If that proves true, the central bank may have to keep interest rates elevated
longer, a situation that Tawil believes could force the real estate market into
a difficult period of adjustment. Faced with the prospect of refinancing
properties at high rates, many owners, in both commercial and residential
sectors, may decide to cut their losses and sell, which would put more inventory
on the market, causing prices to fall.

He suggests investors look elsewhere to protect or expand their capital.
Specifically, his team is focused on technology and cryptocurrencies such as
Bitcoin.


THE CRYPTO OPTION

Tawil’s team is bullish on technology, especially crypto. Tawil’s year-end
target for Bitcoin is $50,000, roughly 67% higher than the digital currency’s
current price.

The optimism is based on the flow of new institutional capital into the sector.
Tawil points out that industry giants such as Blackrock have applications
pending for regulatory approval of Bitcoin exchange-traded funds (ETFs).

Bloomberg’s ETF analyst Eric Balchunas estimates the move could unlock roughly
$30 trillion in additional capital — a game changer for the controversial
industry.

Bitcoin currently trades at just under $30,000. It’s up around 76% year-to-date,
handily outperforming the commercial real estate sector and even the S&P 500.


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This article provides information only and should not be construed as advice. It
is provided without warranty of any kind.




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