By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    stress management for healthcare workers
    3 Tips For Healthcare Professionals: How To Stay Beautiful, Healthy, and Happy
    November 2, 2021
    importance of relaxing on the weekend for your health
    Importance of Relaxing During the Weekend for Optimal Health
    March 25, 2022
    LASIK Eye Surgery
    What Is LASIK Eye Surgery?
    May 16, 2022
    Latest News
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
    The Best Home Remedies for Migraines
    June 5, 2025
    The Hidden Impact Of Stress On Your Body’s Alignment And Balance
    May 22, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    The PCMH and Home Care Data: An Interview with Melissa McCormack
    December 19, 2013
    IT Strategy for Health Plans: Interview with ikaSystems CEO Joe Marabito
    August 11, 2014
    A New Kind of Stress Test
    May 26, 2015
    Latest News
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
    Top HIPAA-Compliant Messaging Apps for Healthcare Teams
    June 25, 2025
    When Healthcare Ends, the Legal Process Begins: What Families Should Know About Probate and Medical Estates
    June 20, 2025
    Preventing Contamination In Healthcare Facilities Starts With Hygiene
    June 15, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: A Few Ways To Beat Financial Stress In Retirement
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Mental Health > A Few Ways To Beat Financial Stress In Retirement
Mental Health

A Few Ways To Beat Financial Stress In Retirement

Ryan Kh
Ryan Kh
Share
6 Min Read
money and steth pic
SHARE

  Are you nervous about funding your retirement, or about managing financial stress once you’re in retirement? Stress is a notable health risk, so it’s important to tackle this. Consider one of the most useful retirement savings options, an IRA.

Contents
What is the difference in the types of IRAs?How to Transfer Money from your 401k to an IRAWhy Even Bother with An IRAHow to Deal with Financial Stress when Planning for Retirement

What is an IRA?

An IRA is an Individual Retirement Account. This is an investment vehicle that you can set up yourself in order to save for your retirement. When it comes to your retirement, you have several different options. Some companies will offer their employees a 401K. This is an investment vehicle that also save for your retirement, and the company will usually match the amount that you put into the 401K. If your employer does not offer a 401k, if you work for yourself, or if you are looking for ways to save more for retirement, then an IRA may be a good choice for you. There are several different IRAs that you can choose from as well. There are traditional IRAs, Roth IRAs, and there are also precious metal IRAs. All of these investment vehicles can be valuable assets in your investment portfolio.

What is the difference in the types of IRAs?

Generally, IRAs are the same when it comes to their function. As you put money into an IRA, your institution will pay a certain amount of interest on it, or you can choose stocks, mutual funds, EFTs or index funds into which you can invest your IRA. Traditional and Roth IRAs are backed by paper, and precious metal IRAs are backed by precious metals. When it comes to obtaining IRAs, there are various institutions that offer these types of accounts. You can check with a local bank, larger banks, or investment companies in order to find the institution that is best for you and your needs.

More Read

Photo of a man carrying a backpack and walking in Times Square as a featured image for a post about tips for a successful return to work after rehab
Ways to Make Your Return to Work After Rehab as Smooth as Possible
Bridging The Gap: The Connection Between Behavioral And Physical Health
Can Innovative Beauty Tech Improve Mental Health?
Practice Sound Stress Management While Running a Side Hustle
5 Tips For Cleaning Your House When You’re Depressed

How to Transfer Money from your 401k to an IRA

If you have an IRA at your current job and you are going to be moving to a different position, you are able to move your money with you. The best way to do that is to do an IRA rollover. You can also choose to roll your 401k into a precious metal IRA such as a gold 401K rollover. All that you have to do is get hold of the company that has your 401k and fill out the necessary paperwork in order to do a rollover. Depending on what type of rollover that you choose to do, you may not receive any penalty for the transfer. An IRA rollover is a great way to keep your money invested and to help it continue to grow.

Why Even Bother with An IRA

There are some people who may believe that it is not necessary to save for retirement. These people may believe that they will be better off just spending their money as they make it and using their social security when they get older. There are other individuals who may believe that they do not make enough money to save for retirement. Both of these lines of thinking are erroneous. No one really knows how long social security is going to last. Even if you were to receive social security, it is quite possible that the amount that you will receive will not be enough to sustain a comfortable life. Even if you do not earn a large salary, you should be able to set aside 15% percent of your salary in order to save for retirement.

How to Deal with Financial Stress when Planning for Retirement

In order to avoid stress when it comes to retirement, you want to do the following things

  • Get out of debt
  • Save up an emergency fund
  • Save for retirement through IRAs

There is no need for you to get stressed out when it comes to your retirement planning. Saving and investing is a long process, and the money that you will use in your retirement is a nest egg that you have accumulated over time. It is possible that during your journey to retirement you come up against financial issues such as medical bills, house repairs, or even a death in the family. These are occurrences that can happen unexpectedly in life, and there is really no way to predict them. The best way to prepare for unforeseen events is to have a good system for financial planning. This system should include a budget, a good emergency savings plan and also a plan to put money away monthly for retirement. It is best to get out of debt as well. In that way, all of the money that you make can go into building wealth and saving for your later years.

TAGGED:anxiety managementfinancial stressmoney stressstressstress management
Share This Article
Facebook Copy Link Print
Share
By Ryan Kh
Follow:
Ryan Kh is an experienced blogger, digital content & social marketer. Founder of Catalyst For Business and contributor to search giants like Yahoo Finance, MSN. He is passionate about covering topics like big data, business intelligence, startups & entrepreneurship. Email: ryankh14@icloud.com

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

9 Lifestyle Tweaks That Can Add Years to Your Life
9 Healthcare Lifestyle Tweaks That can Add Years to Your Life
lifestyle
July 11, 2025
car accident lawsuit
Let Your Lawyer Handle the Work Before You Pay Medical Costs
Policy & Law
July 6, 2025
women dental care
What Is a Smile Makeover and How Much Does It Cost?
Dental health
June 30, 2025
HIPAA-Compliant Messaging Apps
Top HIPAA-Compliant Messaging Apps for Healthcare Teams
Global Healthcare Policy & Law Technology
June 25, 2025

You Might also Like

Mental HealthWellness

Why Support For All Ages Is Essential When Dealing With Problems

March 11, 2020
employee mental health
Mental HealthWellness

How to Use Training to Support Workplace Mental Health

November 22, 2022
mental health tips
Mental Health

5 Ways To Improve Mental Health Without Medication

April 19, 2023
mental health divorce
Mental HealthWomen Health

Tips for Managing Mental Health During Divorce

July 23, 2024
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?