From Yahoo Finance: 2025-06-07 18:18:00

Retiring with a well-diversified portfolio is crucial, but hidden liabilities can drain your finances. Splurging on a new car can lead to high depreciation rates and insurance costs. Consider buying a modestly used car for a better financial future. Full-coverage insurance for new cars averages $168 monthly, while used cars cost $150 monthly.

Avoid timeshares in Cabo Verde due to high costs and low resale potential. Instead, create a travel fund for vacation rentals. Luxury collectibles like vintage cars and designer handbags may not hold their value. Consider safer investments like corporate bonds or dividend stocks to secure your retirement. Investing $30 weekly for 20 years could yield over $76,000 with 8% annual compounding.

Avoid risky investments like lottery tickets or cryptocurrencies when nearing retirement. Focus on stable assets like gold to hedge against inflation. A gold IRA combines the benefits of the precious metal with tax advantages. Consider opening a gold IRA with Thor Metals for potential financial security.

Diversify your retirement income with real estate investments through home equity agreements (HEAs). Homeshares offer exposure to owner-occupied homes in top cities, with risk-adjusted return targets of 14-17%. This low-maintenance alternative to property ownership can enhance your passive income in retirement.

Whole life insurance may not be the best retirement option due to high costs and limited control over investments. Consider term life insurance from Ethos Insurance for protection without medical exams. With instant coverage starting at $2 per day, Ethos offers a 30-day free look period for a money-back guarantee if you’re not satisfied.

Read more: Here are 6 ‘bad assets’ that could cause you to retire poor in America