Huge Bank savings for retirement or Enjoy life while you earn?
By chiyochan
@chiyosan (30184)
Philippines
July 24, 2011 1:04am CST
What would you choose, be ready for the future that you do not know if its going to come (well you probably not have enough energy to enjoy life already at this age - retirement) butt you got a lot of savings waiting for you to spend them.. or your relatives waiting for you to die and so they can get their inheritance.. hehe OR...
you earn now, put enough for the rainy days and enjoy the rest of your money. (at least you did save a quarter at least of what you will most probably save when you become to stingy thinking about your old age.)
So which one will you choose to do for yourself? enjoy now while you can and slightly save for the rainy days, enough for you... or just load them all up in your bank account (try hard not to spend or indulge in anything you are dying to have) and just wait for the time you are not working already to reap the benefits?
Which one is your choice? =) What are you going to do?
1 person likes this
8 responses
@BannedHelsing (693)
• Philippines
25 Jul 11
I prefer to work my butt while I'm still young and strong, put enough investments that earn, save a lot of money and retire when I'm forty. That way I can still enjoy the money I earned and live the life I really wanted. And maybe, I'll just be doing myLot by then to pass time and earn a little more. Happy Mylotting!
@AgentGulaman (3546)
• Philippines
25 Jul 11
I think you can do both at the same time. It is just about proper financial management. Always try to budget for savings and leisure and neccessities. This way, you are sure to enjoy life while also saving up. Bu of course, you can use your savings to create money through investing and use the profit sum as your leisure money. Doing both would be better, am I right?
@judelen (428)
• Philippines
24 Jul 11
Hello! It seems that your questions is debatable. But anyway, for me if you are an employee you are saving while you are working because of the mandatory insurance to be deducted from your salary every month. So in this case, because of that insurance that you already have, it's time for you to enjoy life while earn the net home salary that you have. It's good to enjoy life with your family while you are still earning because this life that we have is just pass once, who knows that tomorrow or another day we do still exist. You insurance will take care of the future, shall i say when you are to retire by age of 55 to 60 year old. So it's better to enjoy life now while you are still earning because it so much fun while you are still young.
@chiyosan (30184)
• Philippines
16 Jan 13
Hello there! thanks for your time in your response to the discussion. appreciate your sharing this to us... i think there can be items that are open for discussion, but that sure will depend on us.... what we need, and so on. hope to see you around and have a happy mylotting day!
@junrapmian (2169)
• Philippines
25 Jul 11
I don't know if you can enjoy with your life when the salary you are getting is just enough to meet the needs of the family, in this present times where everything goes up and the salary is not moving. In our case, my husband do set aside a percentage for savings every month and the remaining to be divided accordingly to our month's expenses like food, bills, children's allowances and so on. The savings that is set aside is kept for emergency cases. Recreation and out of town vacation is done when their mid-year bonus is received. He does not think about the future because he is expecting to receive retirement pay when he reach retirement age and I guess, that will be time where we can enjoy the fruits of his service to his company. We are more focus on the education of the children because we all know that we won't be here on earth all their life to support them.
@TeamCholent (2832)
• United States
24 Jul 11
There needs to be a balance in life there is no doubt about that. What is the point of working hard now and not enjoying any of the money and depriving oneself for the future. You never know what could happen to you in the end. But given that one needs to save for the future and prepare as best as possible. I know my family prefers me to have all the money and be alive compared to the other option.
Happy MyLotting!
@gluv1627 (45)
• Philippines
24 Jul 11
i think both- save for retirement and enjoy life while you're still young! you will miss out a lot of good memories if you don't start enjoying life while you're still young. what's the use of money but you're already old as in the retiring age. i can still recall, mr. yao's interview, the owner of zest air. he said, he wants to be a teenager again bec. it's something he didn't enoy bec. he need to work hard at a very young age.
@SomeCowgirl (32191)
• United States
24 Jul 11
I would most likely do a little bit of both. I might save a bit more then I really need to and not indulge on things so much. Maybe treat myself only once a month and only an allowance of say $50.00 so that I can save as much as I can. It's better to kind of compromise in this sense and be ready for whatever you may need to be ready for.
Here in the US rumors of having no social security for the future is going around, some of the older people say that it will be but those around 20 to 50 are concerned that it truly won't be there for us.
@rameshchow (4426)
• India
24 Jul 11
Upto certain age, may be below 30years, we will do enjoy, Enjoy in the sense, those things must give us happiness, as well as we will not to do any harm to others. Then we have to seriously think about our family about savings in banks and insurances.
