How to never be financially starved during retirement days.

[CALVINDOL]

There is a time in a job or career owners life, in which he or she would retire and become a non working individual. By definition and description, this time in such individual's life is known as his or her retirement days. A lot can happen when an individual retire from his or her job or career, but it can be interesting to be financially stable and equipped during your retirement days. To never be financially starved during your retirement days, it is better to plan towards your retirement, especially when you are still a working individual. For starters you can allocate a reasonable and considerable amount from either your monthly or yearly income as funds meant for your retirement days. Secondly you can try having more than one income stream and it's necessarily does not have to be another physical job or career but it can necessarily be an online side hustle or stream source for making passive or active income.

You can also try investing your money on legit investments platforms and websites in order to increase the amount of money you keep as savings. When the money you keep a savings is of high value you stand the chance to have a more better and enjoyable retirement days. With the money you have saved so far you can establish also a small offline business possibly near your house or elsewhere so that from time to time you could be accommodating more revenue and profits. Indeed there is life after retirement but in order to achieve that you need to plan and prepare in advance.

 

[Weather4him]

Indeed there is life after retirement but in order to achieve that you need to plan in advance

 

[Carpon]

There are two very effective ways that I know of through which, retired workers can stay financially and even without getting their payment or pension.

One is saving
Two is investing.

Saving being the first one has to do with keeping part of what you earn while you are still a worker. When you are paid, you keep a certain amount of money and this concept is the concept of saving for your retirement. By the time you are retiring, you must have had a lot of amount saved which can keep you financially alright when you finally retire.

Next is Investing. This has to do with putting your money into some profitable ventures. Investment comes in different forms and schemes and there are a lot of ways that one can invest for the purpose of making profit. When someone invests before he or she retires, the person will still earn from it after retiring.

 

[moonchild]

Make a lump sum and put them on fixed deposits, live off interest and travel the world while your retired friends are still slaving at the part time job they got.

Retired people are at the apex of the matrix, they sold their younger years when they were fit and agile to their employer whether government or whatever and now they're looking for ways to make some bucks after they've been booted out from the system because they're old and incapable. Ruthless isn't it?

To avoid all of this drama, build a scalable business to profitability and sell it off or automate it, use the proceeds to live the life you want and do what you like, without answering to anybody and still retire right with good body and health to match.

We only get one shot at life, why not damn the consequences and be who you want to be?

 

[Heartstrings]

Planning towards your retirement is the best way to go,when you plan towards it, everything positive will follow to your best achievement,you don't just wait till retirement without planning,some people may start going into one debt and the other once they retire,this is why it is good to either save or invest. This is also why the idea of having more than one source of income is advisable,you don't have to depend solely on your pension,or you start begging family and friends for Money,it can be embarrassing to some extent.

I have seen some pathetic situations where a full grown man with family begging people on the street for money,with the excuse of no payment since retirement.

I happen to come across one today to be sincere with you,an old man,he was begging me for a change when I was walking by to get detergent, this man is well known in my area as someone who retired and had no means of feeding himself again. It was a pathetic sight I tell you.

 

[Etini]

I see people saying savings can help one to live a pleasant post-retirement life. I beg to differ. For any amount of money to help you in life, it should be able to replenish itself. Savings is never a good retirement plan. One emergency can deplete all that funds. The perfect solution to living a good post-retirement life is to make strategic investments. Don't just invest in anything. You have to be strategic about where you put your money when postretirement is your goal.

One area you could plan and invest massively to help in your retirement is real estate. You can't go wrong investing in it. It would always appreciate. It can give you bulk money annually to invest in something that would be bringing you a regular income. The good thing about real estate is that your 3rd to 4th generation would still reap the rewards of that investment if they can manage it well.