In these hard economic times planning ahead and sticking to your plans is a quite a challenge, but fundamental. My advice is that you need to begin planning for retirement the moment you land your first job. The notion that tomorrow never comes is misplaced, for me it is lack of focus. As we grow older, years appear to move faster than when we were younger. It therefore means that we need to take decisive steps and implement a retirement plan.
Learn to have a budget from the moment you start getting an income. Differentiate between your needs and wants. Budgeting will help you avoid overspending and hence have some money that you can save. It also assists you to prioritize and only purchase items that you actually need.
Protect yourself through affordable insurance policies. Old age sometimes comes with myriad of health complications and hence you may need a sound medical cover to cushion yourself against such unforeseen incidents.
It is important to also set goals that are achievable. One important thing that would guarantee a comfortable retirement is investment. Whether you decide to invest in a business or acquire assets, try to make sure you come up with ways of making money that will not require too much supervision.
Get financial advisors who will help you invest your saving wisely. Financial advisors will instruct you of the best banking options that cost the least to operate and assist you borrow wisely if need be. A good indicator that you are on the right track would be having an emergency fund that can sustain you for at least six months.
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