The Retiree's Guide to a Wealthier 2018

Retirement should, ideally, be a period of enjoyment, but it takes money to make that happen. As we head into 2018, here are a few things you can do to increase your wealth.

The less money you lose to taxes, the more you'll have available to use in the coming year. The first tax move you might consider is one that has an end-of-year deadline: Sell underperforming investments at a loss. The reason? You can use losses to offset capital gains, so if you're holding an investment that's taken a tumble and you don't expect it to recover, cashing out it this year could offset earnings on gains, thus lowering your tax bill. (Of course, you can also do the same in the following year, but if you move quickly, you'll shave money off your upcoming return.)

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Source: Fool.com