There are many legitimate reasons to avoid saving for retirement, and there are many of them. Some of them may be your own. There are numerous reasons, though, why delaying retirement savings would make it more expensive for you in the long run.
You probably don't mind spending as much time as you can with your kids, if you have any. The decision to do so should, however, be your own. Most people don't want to spend their retirement years living with their children because they can't afford to live alone.
Consider the effects it might have on your kids if you have to rely on them, in addition to the fact that you don't want to give up your current way of life. As a result of having to help you financially, they can miss out on financial opportunities of their own and experience increased pressure on their own family.
According to its design, approximately 40% of the average wage earner's income is replaced by Social Security benefits after retirement. Your retirement income should not be based only on Social Security. You'll still need to come up with around 60% of the money you'll need to comfortably support yourself after retiring, even with Social Security.
Saving for your own retirement gives you the freedom to design the retirement you want. It could be necessary to make lifestyle adjustments to put aside more money today.
The likelihood that you will live the lifestyle you choose in the future will increase if you save of retirement now.
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It's a nice idea to save up before your retirement because it will surely safe you from unstable financial after your retirement
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It's a good idea to save!
!PIZZA
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We should keep our gold in silver or gold because we have seen the prices of these two things going up a lot in the last three years. All these coins looks so beautiful and amazing. I wants to add all these coins in my collection. Thanks for sharing.
My gold is my forever stack. The silver is waiting for the right time to be converted into gold.
Yes, save!!!
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Im 35 and currently building and planing how to generate wealth for the future since with fiat annual devaluation I think just putting money in the bank for retirement is not enough anymore, thx for sharing ✌️
That's good that you are building! That is good news, @skiptvads!
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Pretty thoughtful
... as well as straightforward.
People either save or don't. And if they don't, well... it's never too late to start saving.
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We all want to get financial freedom, There could be many ways, you are doing it in your own way and I love your way. all these coins will benefit you in a great way in your old days.
There are many ways to save!!!
Just save!
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Also very important to save that health becouse sometimes no amount of money is going to make things better
Yes... health is wealth!
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The sooner you start, the better.
With three and a half retirement accounts chances are I could even retire earlier if I wanted to. Maybe do some treasure hunting with my Metal detector.
Always, with love 🤗🌺❤️
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As soon as you retire... I retire, hehehe!
Hugs and kisses, sis🤗
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I think depends on situation. If you have enough money, then don't need to saved !
Save, the invest. Repeat! Even in retirement.
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Early preparation before retirement will make you still financial stable when you retire. I can remember when my mum retired she was paid pension, that was because she joined a pension company and the money was collected from her monthly salary. It was a big help when she retired
Pension plans are good! Here in the U.S., you either work for a company that has a 401 plan or a pension plan or not have any. But there is a Roth IRA.
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Nice
Early preparation matters alot
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Fantastic article and a great call to action for people to start saving for their retirement. 100% I know the feeling of those around me who haven't done so.
Thank you, @melbourneswest.
Reading through some of the comments, it's clear that retirement savings aren't for everyone, hahaha!
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We don't have Social Security, do have pension fund that will be eaten away by the rampant inflation within the country we life. Many children still live at home not being able to afford going it alone.
Different regions of the world have been surveyed where many younger generation feel they will never afford a home, will have to rely on rental which is never ideal.
Always put away for your retirement, it really is a must do, the younger the better in the long run!
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As soon as they are able, the youth must be taught how to save, and keep on saving!
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Very difficult to preach when many youth sit without employment, live frugal lifestyle and try save !LOLZ
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I believe it's never too early to start investing in retirement! One should make use of company retirement plans, be careful not to foolishly cash out when changing jobs, and start from scratch.
The reality is that as we get older, living the lifestyle we're accustomed to becomes more and more out of reach once we're out of the job market; health-care spending increases - something else to invest in from an early age!
Having to downscale and move into a good retirement village/ home/ estate, can be costly and painful, although there are some really nice and affordable life-rights options, something we're looking at.
However, for now I love my side hustles which help supplement my income, but what about when my health starts fading?
Then the time will come to sell our biggest investment, our home, and move to that village for our golden years!
You are set, @lizelle!
Being prudent will pay off when it is time to retire!
You are an inspiration!
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Of course you should save for retirement, the savings should be in gold and silver
Ms. Saver @silversaver888
Got a Good One for You Today.........
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Great advice as always, the earlier you start the better off you are!
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The earlier, the better.
But it is never too late to save!
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It’s never too late to start saving @silversaver888……. but it’s always best to start as early as possible.😇😊
So many people procrastinate, and it makes it much harder to prepare for retirement !😊
Reading through some of the comments, it's clear that retirement savings aren't for everyone, hahaha!
We can only remind people, @silvertop😊
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Lol people will go their own path @silversaver888….. 😇
All we can do is remind them !😊
You have to save for retirement because although it is a time of life in which people tend to spend less, it is also true that their income will decrease a lot.
So it is a necessity if you want to reach the end of life in good condition.
You can save, then invest, then repeat... For retirement and beyond!
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I don't put into the SS system and don't plan on that at all. My childern also offer no assistance to me and I don't plan on ever relying on them. I also think 'saving' for retirement is foolish, instead i want to build and amass assets to pay me what income I need to live..
and luv that liberty walking coin design!
Hahaha! At some point, you save, don't you... to buy the assets that will give you dividends and passive income?
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yes. that's true. :P
what I should've said is I'd rather attain assets (investing/buying/building/etc) vs socking my money away just losing to inflation. :(
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To go a step further, the younger folks of today who never purchase a home of their own; when they get to retirement age, that Social Security will NOT pay the rent! Ironically, their rent payment (depending on geographics) might more than pay for a house payment! I know several people in this very situation now, who really aren't considering the long haul. You can only imagine how rent will go up in the years to come and how difficult it's going to be to make ends meet. That's just housing! Where will they get the funds for food, utilities, necessities and so forth?
That's why planning is imperative and being diversified in those plans is important. There is so much that needs to be considered when planning. The earlier you begin the better, but just begin and don't put it off!
Thanks for sharing sis! Much love to you!🤗😘💞🌸 !LADY
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The earlier, the better! However, it is never too late to save!
Hung and kisses, sis🤗
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Indeed!💞💞💞
The best investment advice is it's better to invest now instead of later.
Yes, NOW!!!!
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Saving for retirement, with Silver Dollars, is the ultimate. Gold Dollars, are even better. Thanks again, SILVER SAVER - @silversaver888.