Tips for Saving for Retirement.
Putting money away for retirement is a habit we can all live with. Remember! Saving Matters! Start saving early for retirement, when you are about 30 years Start even earlier if possible. That way you give yourself at least 25 years. You can set aside smaller amounts at this age. As you delay, you will have to set aside a larger amounts Be disciplined. While it’s good to go to the movies, dine, have a binge once in a while, don’t compromise on the money you have decided to set aside every month for retirement. And importantly do a ‘cost-benefit analysis’.
Another aspect of financial discipline is to keep your retirement savings intact, don’t touch it unless absolute necessary. At least not to organize a birthday bash for your friends However, if there are more compelling reasons like, God forbid, an operation or your daughter’s medical college fees, then go ahead and withdraw money from your retirement kitty.
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