Planning for retirement

[Hagson1]

The only thing that can determine whether you are successful in life or not is when after retirement you still remains independent. The problem we are facing nowadays is that, you will see somebody while working has all it's takes to live. Some have cars, houses and the rest of them. But only few sustain the ability to be independent even after retirement. What then is the problem. It's simple, this is because they do not plan for their retirement. Some people just live their life without planning thinking that they will continue working forever not knowing that fail to plan you are planning to fail.
One of the ways to plan for retirement is by opening a personal saving account, which will help you after retirement to sat up a business which you will depend on it as your income. Knowing when to plan is also important because late planning will not give you the best of what is expected. In addition to that you should learn how to invest in business, if you invest you will not be depend after retirement. Not only in business but learn to invest in the lives of people. Which may be your reason to smile.

 

[Jasz]

Retirement is a topic that should be thought about, but often gets pushed to the back burner. This can leave you scrambling when it finally comes time to retire.

Retirement planning does not need to be overly complicated or stressful. Making consistent and smart decisions about your finances throughout your working life will put you in a good situation as retirement nears.

One of the most important things to consider as you approach retirement is creating a spending plan. This will help keep you on track financially and ensure you don’t spend more than you have coming in.

To create a plan that works for you, start by making a list of all of your income sources, including Social Security and any pensions you may receive. Next, make a second list of all of your expenses, including everything from rent or mortgage payments to food and utilities.

Your income should cover all of your expenses each month—if not, it’s time to make some changes so that this is the case. For instance, if your rent/mortgage payment is too high for your income, downsizing may be an option for you.

It’s also important to consider how much money you want to spend on fun activities once retired and build that into your monthly budget.

 

[eldavis]

Savings alone might not be enough, I would also advice why you save, also make investments. No matter how much you save, it will finish when you spend it. But having investments to backup your saving can bring more returns for yourself as well. You could invest in real estate, this could serve as a great residual income. I have also come across some retired persons who set up a store for themselves just to earn extra income as well and to keep themselves busy.

 

[Reinow6]

It better to plan for your retirement than to retire before planning. Plan in pains than retire in pains