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How to Invest Successfully for Retirement in 3 Easy Steps

DATE POSTED:November 21, 2020

You'll often hear about the importance of saving for retirement. But saving is only part of the picture. You'll also need to invest your savings appropriately to ensure that your money grows into a substantial enough sum to sustain you as a senior.

In order to do that, you must strike a balance between adequate growth and reasonable risk. Here are three tips for investing your 401(k) or IRA so it serves you well once your time in the workforce comes to an end.

The money in your 401(k) or IRA needs to be invested in an age-appropriate manner. When you're younger, that generally means loading up on stocks for maximum growth. As retirement nears, it means shifting toward safer investments, like bonds, which are far less volatile than stocks.

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