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Andrew Corbman: What to do With Your Money now That You Have Retired

I can remember about 10 years ago I ran into an acquaintance who worked in the finance industry, Andrew Corbman. During our brief chat, we got onto the topic of retirement, something which at the time seemed a very long way away. My friend was giving me some tips on how to manage my money going into my final years of work and I heeded his advice, with some profitable consequences. And so 3 years ago, I finally retired and I found myself to be in the same situation as many of my friends, no job and lots of money. I had saved all my life and had invested in 3 retirement plans which meant that I was in a great financial position once I had finished working. If you find yourself in this situation, here are some great ways that you can spend your cash.

If you’ve worked hard all of your life and made sound financial decisions, it is time to treat yourself in your twilight years.

Traveling

Given that my mortgage was paid off and my kids were set up for life, I thought why not spend some money on myself. With this in mind, my wife and I decided that we wanted to see more of the world and so we invested our money in 4 trips away in the first year since my retirement. I honestly thought that I wouldn’t enjoy traveling for long periods of time quite like I did in my youth but I couldn’t have been more wrong. I fell back in love with travel and each year since we have taken at least 3 long-haul trips. If you are looking for a great way to spend your money, get traveling.

Home Improvements

You will find that once you have retired, you can do all of those jobs around the house that you never had the time to get around to. Given that I had an extra bit of cash on the hip thanks to my 401K, I wanted to really invest in the home to give it a stylish touch. I love gadgets and tech and so I made sure that when we gave the house a makeover, I was able to spend a good amount of money on an grade-A sound system and some awesome touches to the house which I could never have done during my working life. Remember that you are not into old age just yet and there is nothing wrong with blowing some money on an awesome house makeover.

Investments

Despite having money, I still like to make it and so I have invested some of my hard earned money into a portfolio of various investments as I look to grow my wealth. So far I have some stocks and shares, I have invested in the oil futures market and I am currently on the lookout for some real estate to invest in as well. Investing is about more than just making money and it gives you something which will keep you busy, it is also very exciting to be a part of.

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