Tips on how Not Run Out of your hard-earned cash

[Kola Dimitry]

• Don't Assume That You'll Get a 10% Return Every Year from The Stock Market

• Don't Confuse Income with capital Appreciation or growth from Stocks

• Be Aware of Taxes. These can be your biggest expense, and lowering them can help build wealth

• Reduce Your Debt Ahead of Retirement
-Prioritize your expenses
-Create a Wealth Plan
-Plan for inflation in your retirement planning
-Know your wealth management fees
-Set financial goals
-Calculate your net worth. Here's how to calculate your net worth:
Add together all your assets
Add all your liabilities and subtract from your assets to know your net worth.
Consider downsizing as you near retirement
Now you know how to not run out of money, (or at least have a good start).

 

[Kingsley]

In an idea society those tips are indeed very useful and helpful. But in my country those tip will only do those people above the poverty some level of good, as one needs to truly take cognizance on how we spend our hard earn money, we should always prioritize our needs and ensure we go for the most pressing needs and try as much as possible to distinguish between a need and want. Then individuals should try as much as possible to aswel aviod unnecessary competition with their neighbours, friends, and even family members. This is one of the reason many people decide to go to the extreme and somany illegal and illicit things to get money so as to met up with the societal pressures.

People should aviod by all means any occasions that can be avoided this is another channel where people waste their hard earn resources in attending parties and occasions that are not really relevant.

Although we know the government of my country also has a major role to play in all these issues. Because the country is hard now and people are struggling to survive and many are running away from the country due to hardship.