What happens if you don't save for retirement

Grabo

Member
Many people have no retirement savings. Is there anything these people can do to prepare for retirement now that it is almost upon them? Three things that people in this situation can do. First, if possible, find a job that offers a pension, such as nursing or teaching, in order to gain an income source in retirement.

Second, consider investing in an annuity. Annuities are financial products that turn an initial fixed investment into a future stream of income that is guaranteed for life.

Third, tap your inner resourcefulness and consider being more flexible about where you live and work. This could include moving to a location with a low cost of living or finding a job in a new field. Money does not bring happiness… security brings happiness, so go where you feel secure even if you have not lived the life of luxury you expected.
 

Caguioa747

New member
If you are not smart enough to save money for your retirement then you will totally suffer when you lost all of your savings. My suggestion is that save while you are still young and think of a business that you have knowledge of.
 
Saving for retirement may seem a thankless task. But you may be thanking yourself later. Putting away a percentage of one’s income, money that could be used for any number of bills or luxuries, is a sacrifice made in the present in order to avoid a larger trouble down the road. The longer you have to work towards retirement, regardless of where you invest and how the economy performs, the better prepared you are to retire one day.
 

Jelineex

Active member
It would be of big advantage if a person saves money not only during his retirement. It gives him financial security. He knows how to manage and handle the finances even he doesn't have enough. I think each individual can survive even without saving as long as he has the will to survive. I mean in reality its not everyone has the privilege to earned or received the full amount of retirement pay. However, anyone can still earn using his skills and knowledge.
 

Alexandoy

VIP Contributor
To be frank what I thought about my retirement years is the luxury that I was enjoying. We travel every year to foreign countries at least 3 times. When I retired the travel should still be there. That’s what I saved for before I retired. I had wanted to be traveling abroad even just once a year. It is nice to retire and have a somewhat luxurious life.
 

Mellorando

Banned
Failure to save for retirement will end in fustration, and confusion why working it is wise to save for retirement you got retirement age is a relaxation age and to relax make money to enjoy a good relaxing without money there is no vacation o relaxation
 

Samuel72

Verified member
As a worker with family if you don't save for retirement you might get some financial issues after retirement, it is compulsory for every worker to save for retirement or better still invest in a business before retirement this will help you financially in future. If you don't save for retirement you might end up searching for another job in future
 
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