Retirement is about doing everything you didn’t have time to do before. It’s about relaxing after decades of hard work. It’s about celebrating the best parts of life and spending it with those who matter most. This exciting time can also stretch across three decades – or even longer. That means having a retirement savings plan in place is critical to ensuring you can achieve your retirement goals and dreams.
What matters most during this important life event? You’re most likely focused on the following:
- Spending time with your family
- Conserving your energy for your hobbies
- Saving up for travel
- Helping your children and grandchildren with college, homes, and life in general
Ice vending can help you achieve all these goals and more. It’s the perfect way to generate additional income from your retirement savings, rather than just relying on the money you’ve saved up. Calculating your retirement income and planning out a budget can help you get started on achieving your long-term financial goals without sacrificing your time and energy as well.
Starting A Budget
When considering various retirement income ideas, it’s important to understand the two types of retirement income: regular, which includes things like social security, pensions, and annuities; and variable, such as savings accounts, employer retirement plans, and individual retirement accounts. The best plan of action when it comes to your retirement savings is to combine sources.
A good starting point is the “back-of-the-envelope” approach: Calculate what you spend now, and multiply it by 75% to 85%. Because you will no longer need to take into account the money set aside for retirement, work clothes, your commuting costs, and so on, this is the figure you can use as your first-year retirement budget.
You can figure out how to calculate retirement income with helpful tools, such as an online retirement calculator. If you enter your current financial information, you will be able to see what you can expect from your monthly retirement savings. This will give you an idea of how much more you will need to supplement your income from retirement savings.
Take a look at another helpful online resource: our helpful ROI calculator. This will showcase exactly how much you are able to earn with an Everest ice and water vending machine. Even a typical location for your machine can earn a return on your investment in under two years! As you’re considering investment decisions, you’re not likely to come across anything with such a positive and rapid rate of return.
There are a few ways to earn money to supplement your retirement income, including working longer to delay the benefits, or even taking a part-time job. Did you know nearly 20% of the income reported by Americans age 65 and older comes from wages?
So while it’s likely that you’ll have social security, retirement savings, a traditional IRA, and so on, it never hurts to generate additional income. But if you’re retiring, you’re probably not looking for intense work – so what could be better than passive income?
A Truly Passive Income Opportunity
If you decide to go online and look up passive income ideas for retirement, you’ll get lists of potential options. The problem is, 99% of the time these “opportunities” are only passive after a considerable amount of prep work to create or offer the products and services they suggest. Don’t let randomly curated lists steer you in a direction only bound to cause frustration and cost you money.
Ice vending offers an incredibly beneficial opportunity that can offer a truly passive income. You don’t have to worry about staff or stock – this is a 24-hour-a-day plug-and-play business. Everest also offers the most energy-efficient ice and water vending machine on the market, which means it costs very little to create your product, and you could see profit margins of up to 98%!
So the only thing left to ask yourself is this: How will you spend your retirement savings? The possibilities are endless.
Generating additional income from retirement savings can be the difference between surviving and thriving during your retirement. Rather than strenuous budgeting or continuing to work at a taxing part-time job, why not earn some disposable cash and truly take advantage of some of the most passive income you can earn?
An Everest VX is the solution to your financial dreams. Retire the right way and spend your time, money, and energy where you want.