Should i save my pension for better future

[Hania iman]

Hello friends. I hope you are doing well. I want to know your opinion about should i save my pension or i should start some buisness with my pension. I know saving is good thing byt if i do some buisness then may be i will earn more profit. I can do trading or investment as well with my pension but i am confused that what should i do with my pension. Should i store it or invest it. Please tell me your opinion about it and share your idea with me. I am confused because trading is very risky and i don't want to take risk at all. Please share your experience with me. Thanks.

 

[btaliat]

There is need to judiciously use pension to ensure better future. I will strongly recommend investing rather than saving pension. Saving doesn't make the money increase, it only allows it to be idle.

But before we decide to invest our pension, we need to know more about the investment to ensure we are doing the right thing. There are some people that have lost a great money to investment just because they don't have the right information.

To be very secured, it is better for a pensioner especially if he's old to allow his children to take charge of the investment.

 

[Axis]

Yes it's true.pension shouldn't be de only money a retired person should rely on... most times investing is a nice step to take...nice point

 

[Alexandoy]

I don't think it is a good idea to let other people handle your investment even if they are your children. It is all right to consult them or for them to give an advice but for the actual investment it is the pensioner who should be handling and taking charge of the money. I am not saying that you should not trust your children. It is the best if you are independent in your investment. However, if the pensioner is already incapacitated or have memory loss then I guess it is only proper for the children to be handling the money for him. I just hope that the pensioner will benefit from his pension as handled by the children. In our culture the children can trust the parents but vice versa is not advisable. There are children who has vested interest on the money of their parents and that is the bad thing there.

 

[Kendy]

It is good to save your pension towards retirement but you should be able to foresee the future if your pension savings would be sustainable you for a life time? There are so many pension schemes that you can engage in saving your funds but what I think is more recommendable is the act of investing. When you save your money towards retirement, I do not think it would be sustainable in the long run. Planning towards retirement should be an intentional act and you should try to foreshadow how you want your retirement age to be and work towards it. It is best to invest even while saving some funds towards the same retirement goals. My grandfather's retirement plan was majorly investing in purchasing real estate properties, specifically landed properties, where he used and utilized them for so many purposes that he did not even depend on his monthly salary. From cultivating on the land, rearing of animals like; rabbit, poultry, goats, Rams, cattles and pigs. He had a vegetable farm and he also set up a mini recreational park and museum with different reptiles where people came in influx to have fun, cool out and make new ideas.

 

[Caramelle]

I've always assumed that pensions are primarily for people's living expenses during their retirement days as we can expect the loss or reduction in income streams upon retirement. You're fortunate to be in a position where you can still decide whether to save the pension for the future because most people I know spend it for their daily expenses and medicine. For many retirees, the future is now. It's time to reap the fruits of their hard labor. However, I do understand that there are always elements of uncertainties and we must always safeguard our future at whatever age.

If you must invest in something, it must be with a lot of care and deliberation especially if you are investing for the first time. Storing the money in your house will not bring you profits but will put the money at risk from robberies or disasters. You may want to invest it in conservative financial instruments with very low risk. Stressing yourself out to make money could be counterproductive and unhealthy at this stage. You may consider investing in time deposits or government securities like treasury bills. They offer higher interests than a regular savings account. Investing in blue chips stocks could be a good idea, too as these are stable companies that issue dividends on a regular basis.​

 

[Rachael]

In achieving or attaining a better future, it is not just advisable to only save your pension. The essence of saving money is acknowledged but the act of investing the money would be more profitable in catering for most of our needs, this is because, human needs cannot be satisfied so long as the law of economies still exist. Pension savings is always a little or quarter fraction from what you were earning in your organization or business. There is nothing as profitable and wise like in investing your pension funds. I have not come across a retiree who depends solely on his income, except those who were maybe retired under some pressurizing or unforeseen circumstances. The main objective of saving the pension is so we can carter for ourselves but in the end, the pension will definitely not be enough in solving all our challenges and this is the reason we should be conscious about investing. You do not necessarily have to invest the whole funds instantly but you should utilize your savings realistically because in the process of this investment, you would make some profits, where you can reinvest and also save as well. In summary, save your pension for better a better future but invest for the best future.

 

[Axis]

Everyone wants to make make more money so instead of saving it up.its vital the person invest the pension to encourage the flowing of more money.nice point

 

[Mika]

You need to remember one simple truth about a pension. Pension is the money you receive after retirement. Even though some companies have the provision to give your entire pension money, pension is most case received just like salary, every month, or every 3 months, or even every 6 months. By the time you retire and become eligible for a pension, you will be at least 60 years of age. In my country, you will have to retire after 20 years of working or by the time you reach 60 years. When you are 60 years of age, do you think you are capable of doing business? Well, you might be very healthy for your age, and capable to work long hours, but think another way around, what if your business failed and you lost your investment. Now, you are not in a position to pay for your food or pay your bills. You should never start a business after retirement by using your retirement funds. I think the safer way is to put your money in an interest-bearing account and earn interest in your savings. Likewise, if your company does not have provision of pension, you should start building ip your pension funds.

 

[Bookwormlux]

A pension supposed to be money that is being paid to you when you have retired from public Service .

I believe that by that time, you are already too old for any form of labour and that is why the government has decided that you have to take a break from your normal work and be resting either at home or wherever you want to do so .

There is actually no point that someone who is already retired and receiving some pension from the government will now want to stress themselves by trying to see how they can invest into some business or other things .

The only condition whereby somebody who is earning money from the government through pension can then decide to get involved in some form of investment or savings is , when they live in a very corrupt society whereby there is no guarantee for the pension coming in every now and then as it is expected to do .

If that is the case in the location where you are, then I believe that you have no option but to save, because the government can disappoint you anytime and it is best to not be caught unexpectedly .

 

[Mastergp]

Well I haven't gotten to dey that stage yet but base on my own knowledge on pension money, it the among we receive from services we render when we we're working for certain organization or firm, but during retirement period they received pension,
It would be a good idea to save pension money for they future maybe not your future but your children if any or relatives, because at that stage one is at his or her future I.e old age and most time money become less problem for them.
And in most country pension money do not arrive as expected and this could create discouragement in such a persons mind or making him hopeless
Most time they money they do received may not be able to feed themselves and saving it may result to starvation of oneself in order to achieve that goal.

 

[carmen0147]

Pension shouldn't be saved in my own opinion, you should grow more with it. My dad is a pensioner and he doesn't just save his money, he funds real estate projects. I suggest you look into oil and gas investments.

 

[saoussen5765]

Save pension is lesser risky but invest is enter on the risk because project might fail as might win a lot of money after start it so it is up to you to count the pros and cons.