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For those of you who are about to retire from the workforce should be mindful of the expected income you will receive when those employer paychecks stop. Most of you will have a 401k plan that you must now roll over into other earning opportunities without taking a big hit on the payment of Federal income taxes.

My advice is to invest that money into the safest kinds of earning opportunities that are available. As such, it is not wise to give an account manager complete control of your lifetime of work. The safest investment that you can make is to purchase government bonds. The next safest thing to do is to buy certificates of deposit, which are commonly known as Cd's, from a solvent and Government insured bank. The earning from such investments, together with your monthly social Security payment, will then give you some idea of what your total retirement income will be.

That amount might not equal the amount of money that your employer paid to you but you will not have the expenses involved with going to work each day. Then again, some of you will probably want to remain active and seek part time employment as well.

As a matter of fact, you might want to turn your hobby interests into a small money making business. In that regard, some people earn a few hundred dollars a month just by selling used items within their local flea market. Such an activity will certainly keep you busy, knowing full well that such extra income will not be your only means of support. Doing so, you will meet and make new friends and still feel that you are a worthwhile person within the community where you live.

If you own your home free and clear of a mortgage you might want to downsize your living arrangements. That means that sometime within the future you will sell your current home and move into a smaller and a less expensive home. Your physical health should also be an important consideration, in regard to your family doctor and the area you plan to move to.

Keep in mind that you are actually beginning a new way of life. Just how much money you will earn as you live that new life must be your primary concern. Therefore, it is wise to invest your retirement savings in the safest investment that are available. For those of you who are about to retire or those of you who are retired that is the best thing that you can do.

For those of you who have extra money available you might want to invest in your own small business. The small business can be the expansion of a hobby that you might have or would like to begin. The buying and selling of used items is one way to earn a few extra bucks. Flea markets are everywhere and it is a way for you to meet new people and make new friends as you promote your used items.

Good luck and may the last years of your life be a truly happy, healthy and productive life experience for you and your entire family.

Learn more about this author, Joseph Malek.
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