The best $5,000 you can spend every year in retirement

For many people, retirement means living on a fixed income and cutting costs to reduce expenditure. And while these are both sound strategies to help stretch the dollar, sometimes the better option is to spend a little instead.

If you have a little extra money, say $5,000, you might want to allocate it toward things that boost your future financial security and personal happiness. This could be low-risk investments or it could be checking off something on your bucket list.

Whatever the case, here are some of the best ways to spend $5,000 each year in retirement.

Invest in low-cost index funds

Retirement doesn’t have to mean an end to investing. Whether you want to continue building wealth for your heirs or you just like the idea of seeing your money grow — both are perfectly valid — you might want to invest in low-cost index funds. They don’t require much time or energy, so you can still enjoy a leisurely retirement lifestyle while watching your money grow.


continue reading »