4 Things You Must Do Before Giving Up A Fixed Income

It might sound odd, but you won’t always have a permanent income to fall back on. There will be a time when that constant cash injection ends and is replaced with a government payment or even funds from your own life savings. You need to make sure that you are prepared for this point in your life by taking the right steps now. There are a few options to consider here that can make sure you are prepared for the trials of the future.

Buy Property

While you don’t have to start buying property once you turn twenty, you should make sure you own at least one home by the time you reach forty. Why would you do this? Well, it’s simple a matter of making sure that you have a cushion of capital that you can fall back on. When you have a home, you can use it as security for a loan or maybe even borrow from it to go on a globe-trotting adventure. You can also think about upscaling or downsizing. As you head towards the end of middle age, downsizing can be a smart decision. You’ll get extra money for your savings, and you will be able to move to a place that will almost certainly have lower bills and monthly costs. However, it’s more difficult to do this if you don’t have a property to sell.

Find The Highest Interest Rate

You should be looking for a way that your money can work for you. Here, we are talking about the option of finding a savings account with a high-interest rate. You’ll be able to gain a fortune on your existing savings if you do this by taking virtually no action at all. There are various savings accounts on the market, so make sure that you compare the market here and find the right choice. Obviously, this move can be risky particularly when you consider that in a recession, interest rates drop. We haven’t had a recession in a while so one could be on the horizon. But ultimately, you won’t lose more than you save, unless you choose a locked in the account which isn’t a smart move. You want to make sure you have as much freedom as possible to move your money around.

Plan For Retirement

Do make sure that you have a plan in place for your retirement. There are various retirement solutions that you can consider, and you should look at various possibilities including pension funds and investment options. It’s all about making sure you have more than one source of income flowing into your accounts before and after your retire.

Get Your Family Sorted

Finally, if you have a family and kids, you need to make sure that they are sorted and moved out before you give up your fixed income. Kids are expensive, and this doesn’t really change until they have moved out of the house completely and are standing on their own two feet. This should be the case before you start to consider an early retirement.

 

Natural Mood Boosters

Whether you are feeling a bit blue over a breakup, a general dissatisfaction with life has crept in or you simply don’t find much to be happy about from day to day, there are lots of very simple. Very natural things that you can do to boost your mood. If you do them occasionally, they will give you an occasional lift in the moment, but if you do them regularly, their effects will be cumulative, and you will find yourself feeling happier more often. Some of them may even help you if you’re struggling with depression, although they are no substitute for proper medical intervention.

What are these wonderful, natural mood boosters? Let me tell you…

Exercise of Course

Okay, so I know that exercise is often the very last thing that you want to do when you’re feeling blue, and it can get annoying when everyone seems to recommend it as a panacea for everything, but you know what? It really does work. When you exercise, your body’s levels of dopamine and oxytocin increase and since they are the very hormones resp[onsible for feelings of happiness and love, this can have a pretty powerful effect. Even if you just take the dog for a brisk walk or dance to your favorite songs for 15 minutes, you should feel a lift in your mood. Exercise every day and you’ll definitely feel much happier much more of the time.

Spend Some Time on The Meditation Cushion

More and more studies are coming to the conclusion that meditation can reduce stress and anxiety levels. Boost happiness and even have a positive effect against depression. It doesn’t matter whether you sit and chant Sanskrit mantras for 10 minutes or focus on your breath for an hour, once you’re done, your mind will feel calmer and your body will feel more relaxed, resulting in a happier you. If you want to get the most benefits, it is recommended that you try mindfulness meditation, however as this has the most evidence backing up its usefulness for regulating emotions right now.

Have Fun with Friends and Family

How much time do you spend with friends and family?? Of you barely see them because you’re too busy working or whatever, it might be time to clear up your schedule a little so that you can see the people who matter most to you more. Why? It should be obvious that being around people you love, and who love you is a great way to give you a happiness boost. It has to be face-to-face contact where you can see each other’s expressions, hug and laugh together though – a quick conversation on Facebook or Whatsapp simply isn’t going to cut it. Live, laugh, love and all that.

Get Your Nature On

Nature has such a soothing effect on body and mind. Numerous studies have shown that spending time in nature, whether that is on the beach or up a mountain, will lower stress levels, boost your happiness levels and give you a greater sense of vitality.

Time to get happy!