What Will You Do If You Retire Without Having Money?

[Good-Guy]

Retirement is a phase of life when most of the people in the world stop working for a living and they rely and live on their pension or life savings. However, this is not always the case. There are thousands of old people in my country who, despite being so old, are still working day and night in order to make a living. In fact, many old people in my country are actually working much harder than many young people in my country. I think that these are either poor folks or people who have never saved any money for their future. I can understand their problem and I can sympathize with them because not all the people are able to save money in life due to various reasons.

Some of those reasons include low income and high expenditure. Some people even get their life savings looted by immoral people. Regardless of the condition, they still need to do something to survive in the end. These are the people who never receive any kind of pension due to various reasons. Some of them include abandonment by the company they used to work for. Some of these old people are also abandoned by their relatives and other members of family. So what will you do if you retire without having any money?

 

[eldavis]

I have seen cases like this of people who retired and have Notting to write home about or even boost about. I think the best thing to do in such a situation is to look for something small to do, just to generate income. Because you have retired does not mean you can do other things. Look for something small to do that you can use in generating profit.

 

[Alexandoy]

I know of so many seniors who retired without enough savings. They just depend on the government pension which is very minimal that can only be enough for the pensioner's personal needs. If the pensioner is renting a home then that would be a big problem. That is why many pensioners here are still working even if they do odd jobs or hard labor work because they need to earn for their livelihood. Making things worse is when the pensioner has a family and the kids are depending on him.

On the brighter side some of my classmates who have a minimal pension get support from their adult children. They receive a sort of regular allowance from their children for their personal needs and other expenses. That is pretty cool to have support from your family. Some are even getting financial support from their siblings who are financially well off.

 

[Rachael]

This is actually a hard question to answer and this is because, nobody will think or wish for such prevailing circumstance. I will never retire without having money because at every point of my life, I am intentional about making value that can fetch me meaningful income. There are cases where even hardworking people retire with little or nothing to sustain them. If I were to be in such precarious situation, I would immediately loan money from a bank with low-yielding interest and start up a sustainable investment, either in agriculture or real-estate investment.

 

[Caramelle]

Who would want to retire without money? As we age, our faculties decline and so are the opportunities to be productive and earn money. That's why we need to work hard, save up, and invest properly while we're still young and healthy. I understand that many people do not have the same opportunities and that some will reach old age without much significant achievement. In such cases, retirement may not come at all. They may have to work until their mind and body are no longer capable of doing work. Work in some cases will mean begging on the streets. They will likely depend on the mercies of their government and relatives when the time comes that they are no longer capable of working. I hope that such situations will teach people some lessons in preparing for retirement.​

 

[Kendy]

Retiring with no money is more like a bad omen because this is more like starting from square one or starting afresh and this is something which no one hopes for but unfortunately, this happens to some people. The reality at times is that, those people had no vision or never thought that time could run so fast to retirement. If I happen to find myself in a situation where I retire without money, I will have to make a swift decision if not the thought alone of not having money can send me into having a high blood pressure or depression. I do not think the best way to retire is in such situation and this is the more reason, in the first three years where you have a source of income, it is advisable for you to have a retirement scheme where you plan your retirement goals. Often times, the best way to plan for retirement is by having a fixed deposit account where you would not have leverage to it until after retirement and you could also choose to invest in; Real estate, agricultural activities like; planting and livestock rearing, palm oil processing and for online, you can choose to invest in stocks and shares, forex and cryptocurrencies trading.

 

[sarapidgeon]

This is a perfect ideas,you have a point.

 

[Dasryny]

I have to keep working. 😀