Top reasons to save for retirement

Augusta

Augusta

VIP Contributor
There is no accurate time to start saving for your retirement. So you don’t have to wait still any right or ripe time. For me I believe you should just start saving from wherever you realize you need to start saving for your retirement. You would benefits in the long run when you have finally retired. The below reasons should prompt you to save for your retirement

1. You would have money to use during your retirement period. You wouldn’t have to depend solely on people if you have saved some money before now. You can withdrawal your money in bits to use

2. You would enjoy activities you wanted but couldn’t when you were still working. The money you had saved can help with these activities

3. You can start an investment or a side business with this money if you still want to hustle even in a small scale

4. You would be able to meet the living cost of the future since the cost of things are never static

5. You would be financial free during your retirement as you would have money with you

Add yours?
 
sincerem

sincerem

VIP Contributor
I was saving gradually, but now the current inflation of my country have suddenly taken my savings to almost zero, leaving me with mountain to climb in order to generate any meaningful amount of money through savings. But notwithstanding, I am still making plans, to cut down my spending, even if I am trying to manage it. But the solution for me, will be, going for a better earning gigs, for it to work out, I need to complete my skill acquisition, and become a pro in the field. If things work out as I wanred, in the future, it means that, my time from now to old age wouldn't be torrid provided I don't spend money carelessly. Saving and investment is good for the future, they're just perfect retirement benefits.
 
Augusta

Augusta

VIP Contributor
  • Augusta

    Augusta

Definitely, there's no two ways out you just have to start planning for your retirement by saving some money every now and then. Ok don't think there's any time that is safe to save you need to start as early as possible. the truth is that there's no perfect time for this whether you are working 9noine or offline you need to inculcate the habit of saving for retirement. The thing is that retirement would surely happened whether we are ready or not.
 
Kingsley

Kingsley

Valued Contributor
What you have said it indeed correct and looks very factual one truly needs to start planning ones retirements as early as possible and not delay the plans as it pertains to retirement, because time they say awaits no one as every single day is a golden opportunity to correct the errors of the past and to make better plans for the future. It will be calamitous to wake up one morning and realise one's services are no longer required and nothing has been put in place to irresist the challenges that will come such a person's way. In fact there are lot of people these days roaming around in their retirement age begging for what to eating claiming life is hard, all this had happened to them because they fail to plan for their tomorrow.

Rather than save I would even encourage people to always invest now that they have the opportunity because I have discovered that most times inflation always acts on people's savings and this always makes their savings to always be smaller in the future as compared to this current time, what they can do with the cash now is more than what the cash will be worth in the future after saving it.
 
Rachael

Rachael

Verified member
I think saving for retirement is necessary and shout not be negotiable. Even people who are working under government organizations and have the assurance of their pension and gratuity are still cultivating the habit of saving and investment then why won't someone who is self employed follow suit. Working in public establishments have this advantage of pensionable jobs and gratuities. Most private establishments do not have this leverage and if they should, it would be left for the employees to engage in the funding by themselves.

Saving for retirement can be done in different ways and the best and recommend plan is to invest. Investment would always stand a chance of making your funds bigger but just saving continuously is not feasible because a challenge can come up and wipe the whole money away and they would be nothing to fall back on. Investing in stocks and shares and real estate business is my best suggestion. Any one who fails to plan for his retirement definitely is myopic or short sighted because it would mean going back completely to square one and at that stage, you might be old and unable to get another job because some companies even have age limit of employees they recruit. The ultimate goal is to make hay while the sun shines.
 
eldavis

eldavis

Valued Contributor
I came across someone who asked when was the best time to start saving for retirement. This question might sound funny but there are alot of persons still asking such questions, they feel there is actually a specific time they need to start making plans for retirement but the truth is that the best time to do this is right now. Once you start earning, start making the needed plans for your retirement.
 
Mika

Mika

VIP Contributor
If you are placed in high rank in a government agency or international agency, you will receive a lot of retirement benefits. Therefore, for the people who are working for the government in high rank, or working on the international agency where they receive a salary in USD and receive really nice retirement benefits, there is no need to save for retirement. However, if you work in a small firm and your company does not offer any retirement benefits or even if it offers retirement benefits but does not offer good benefits, you might want to consider saving for your retirement. Buying an insurance policy can be a good strategy for saving for retirement.
 
btaliat

btaliat

VIP Contributor
Saving for retirement is one of the core things that a person that's working should do. Whether you are working with the public or you are working with a private organisation, what we need is saving for the latter dayz the day we will retire and have no strength to be running for any livelihood anymore.

Saving will allow us not to depend on anybody. I do see some people that have worked during their youthful age and instead of them to sit down, relax and enjoy all what they have laboured for, they are still depending on either family or friends to survive. The main reason why this may be so if the workers refuses to save for his retirement.

Another reason why it is normal for us to save is that it si make us to have money to invest on any thing we may want to invest on. Personally, I don't really support saving. But even if I support investment, we need to save money before we can invest, meaning everything will still boil down to saving.


When we save, it means we have fulfilled our self actualization of seeing ourselves enjoying the fruti6of our labour at the retirement age.
 
Ithedicious

Ithedicious

Active member
For me , I do try to save as much as I can because it is not just about retirement, it will help you to establish a business in the future which can also help you to have some sort of security on your retirement , at least something to rely on.

For me I am particularly interested in business and if I can be able to start up a business , that will really help me in so many ways because from the business is how I can invest in other things if I am able to generate the required profit . .

Investment is absolutely necessary and because of the high depreciation of our money , which is a gradual process and may continue for a long time , it may not be a wise decision for me to invest my money in my currency anymore . If there is any possible solution I will likely invest my money in the US dollars .

Real estate is also a great way of investing , at least this will give you a reasonable profit especially if you have opportunity to invest in good location because that is also very important .
 
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