Will you rely on pension stipend or have alternative option during retirement??

sincerem

VIP Contributor
This kind of question surface almost every time. Lots of retirees have made mistakes during their time as civil servants but they never really taken their time to invest their funds in an advanced investment that is certain for unending passive income. Their are lots of investment options out there for workers to invest on, and earn future benefits especially during retirement.

Many of the civil servants are just too reliant on their monthly stipend to make ends meet, and not struggle too much to invest. Cos they have that fear factor that, they may lose it if they invest their hard earned money. Some investment options offline isn't as risky as they think. All business is risky, but anyone who isn't ready to take the risk won't reap from its future benefits.

So those civil servants who doesn't want to take such risk rely on their monthly stipend till retirement. Even during retirement they rely solely on pension stipend. That's why when the pension never arrive early enough, those kind of retirees suffers it for long time. Cos they were too flat and fearful to invest wisely to earn additional income and support their monthly pension stipend when it eventually arrive.

Are you the type that is over reliant on pension stipend to make ends meet or you have other alternatives to enjoy retirement??
 

A K Rao

Active member
This kind of question surface almost every time. Lots of retirees have made mistakes during their time as civil servants but they never really taken their time to invest their funds in an advanced investment that is certain for unending passive income. Their are lots of investment options out there for workers to invest on, and earn future benefits especially during retirement.

Many of the civil servants are just too reliant on their monthly stipend to make ends meet, and not struggle too much to invest. Cos they have that fear factor that, they may lose it if they invest their hard earned money. Some investment options offline isn't as risky as they think. All business is risky, but anyone who isn't ready to take the risk won't reap from its future benefits.

So those civil servants who doesn't want to take such risk rely on their monthly stipend till retirement. Even during retirement they rely solely on pension depstipend. That's why when the pension never arrive early enough, those kind of retirees suffers it for long time. Cos they were too flat and fearful to invest wisely to earn additional income and support their monthly pension stipend when it eventually arrive.

Are you the type that is over reliant on pension stipend to make ends meet or you have other alternatives to enjoy retirement??
Though I am serving for a Private firm and we don't have pension scheme here, we get Provident fund and other benefits as per the Government policies. Meanwhile I depend on the interest I receive from my fixed deposits and also I have got some flats to give on the rent which in return are giving me sufficient fund to meet my monthly expenses very comfortably. I in fact planned it in the beginning it self about this.
 
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Augusta

VIP Contributor
The two are no bad options because you were saving up during your working days, so that at retirement you have what to fall back on. But if one have other alternative then it will be a lot better. I think having a little hustle before retirement is the sure bet.
 

funmi

Verified member
It very unwise for anybody to wait for pension stipend before you retire or at retirement. No one can plan good thing for you except yourself. Not even your children or government as a better plan for your retirement. It is better for you to have your own plan for retirement. Many retirees in Nigeria has not been paid for months, they carry plank cards every now and there to protest. So be wise.
 

Alexandoy

VIP Contributor
I have anticipated that the monthly pension of $200 will not suffice to my standard of living so I have saved before my retirement. But my savings was not enough to buy real estate so I am still waiting for more funds to come in. My savings are in the bank for safety.
 

Sherman198

VIP Contributor
Relying and depending on pension is not always a good thing. What if there's a delay in paying your pension and you are terribly in need of your pension. Especially, in some third world countries where pensions can be withheld indefinitely....

I think it's better to have another source of income like a business that can bring money to you when you are in need of money and let pension cash be sided.
 

Mika

VIP Contributor
I would never have a pension because I do not work in an organization. For a self-employed individual like me, there is no pension except I start saving money in my pension funds. But instead of saving money, I would prefer to invest and earn profits from my investment and live a comfortable life in old age.
 

chicnthin

Active member
I'm a student but I prefer to have another source of money once I retire. Because most of the time, the pension would not be enough. My father on the other hand, who is about to retire, have no other source other than the pension itself. It certainly isn't enough, so I would promise myself not to be like that.
 

Josemendez

Verified member
The fact is that most people that retire are a bit old and thus are not likely to engage in new work ,however for those if them that are still healthy it is proper if they can engage in other jobs to make ends meet , especially when their pension money is not enough for them.
Even when the pension is enough for them , the person should have something else to keep him busy and thus avoid being idle.
 
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