Are you ready for your retirement?
By misshoney
@misshoney (973)
Philippines
July 17, 2008 9:14pm CST
Working people are always advised to save a portion of their monthly income. these are the funds that they can use in times of emergency. They should also set aside a certain amount every payday as their retirement fund. I believe that one should start a retirement fund as early as possible. I know it's hard for people in their 20's to think of retirement and would still want to enjoy their hard earned money but i think it is wise if they saved a little.
Saving money is not that difficult if one is disciplined in handling money. How about you? are you ready for your retirement? How much of your monthly salary do you save? 10, 20 or 30 percent? I saved as much as i can but i admit that it is always tempting to spend so much sometimes.
1 person likes this
3 responses
@Insung001 (740)
• Philippines
18 Jul 08
I actually started a discussion here about retirement. I think this is one thing we should seriously take into consideration. Saving is one of the good things you can do to prepare for your retirement. But unless you have a very huge income and huge amount to save, with the present inflation rate, it would take a while before we be able to save the amount we need for the retirement. By the way, do we know how much exactly we need for the retirement? That is also one thing we have to know, if we don't know the target, what's the point of aiming?
Investing is another option.
@sudalunts (5523)
• United States
18 Jul 08
I worked for a company that had what they called payroll savings. I would take out $150.00, every pay period. When you have the money taken out of your pay it is so much easier to save. You get used to whatever your take home pay is and never miss the deduction.
By doing that I was able to pay for my son's college, with no student loans hanging over our heads.
@laglen (19759)
• United States
18 Jul 08
I am in my 30's. I have been stupid. I have no savings. I am now paying into a 401K, 5% plus a 5% match. I chose 75% aggressive and 25% moderate. To everybody in their 20's, don't wait! Do it today!
