If you are in your twenties or thirties, retirement is probably the last thing that’s on your mind. You would probably be busy thinking about a career boost, a new home, or starting a family. The thing young people don’t realise is that retirement is a major life event, just like all the ones mentioned. Retirement indicates that you have finally reached your elderly years, and it’s time to let go of everyday worries and relax.
Retirement does not indicate an end to life as you know it. Statistically speaking, you will live for two or three decades after retiring. During this time, you will need shelter and money for daily necessities. Now, whatever the government or your children might offer may not be enough. If you want to retire comfortably, you will need a plan. Also, you need to set this plan in motion just as you send out your 40th birthday invitations, if not earlier. Here are
Why You Should Plan for Retirement before Hitting Forty
With a lot of people working hard to pay their bills, and often having no money left over for personal rewards, let alone substantial savings, putting extra money into savings can be a tough task to fulfil. However, it’s important to remember that even the tiniest amount — even if it’s $5 a month — will all eventually add up, and be better than nothing. Here are 4 tips to get you started on a better savings path. Get Out of Any Debt First There is no point planning to put money into your savings if you have a backlog of debt, no matter how small. Although any form of savings is a positive, it’s much better to use any extra money to clear debt in order to get straight with your finances and avoid paying extra due to interest charges. As soon as debt is cleared, the monthly amount you usually pay in minimum debt payments can then be a bonus for your savings pot. If any de 4 Tips for Increasing Your Personal Savings
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