How are you planning towards retirement, wait for your pension money, or start up a business with your savings??

[Alogakho Esson]

My biggest plan for retirement is to establish a good business benefits of estate management of land and other fixed access which always appreciated with time

 

[Sarfraz Ali123]

Saving now for retirement will ensure that you have enough money to enjoy a comfortable standard of living when you stop or reduce the amount of hours you work.Even if your employer doesn't offer a retirement plan, you can still save for retirement, by putting money in an Individual Retirement Account

 

[Asma]

Pension has its own important but i think after retairment no one wait for it and start business by saving. because business gives you profit more than your pension.. after starting and growing business pension will save for future..

 

[tyrim88]

One of the joy a retiree will have is applying financial intelligence while still in active service. setting aside some savings to be put into a small scale business and watch it grow with time and using that period to gain experience on the business is very important.

 

[Judee201]

Retirement is supposed to be what it says. A time to retire from active work life. A time to rest from all the hassles one has gone through, trying to make a living. A time to go to some places, spend a little time here and there, purging your systems from all the toxins you have accumulated from stressful lifestyles over the years. It is also a time to be with your family, having always been on the road all those years.

But it is advisable to have a retirement savings account.

 

[Ifective]

All options are viable plus investment. Waiting for my pension is actually almost out of it. It will come but not sure when. So it is better I actually start of with investing a lot of money on businesses first and coupled with my savings, I can start a business. The more I tend to wait for my pension money , the more time goes by.
So it is definitely important that one has other plans aside the pension

 

[Sincerem]

Yep well said, spending money blindly is not a justice with you,your family and even with mobey itself too. This world is running because of money, if you have not money then you can't face any situation, save money either you are too poor or too rich, save at least 20% which will help you in bad time, waiting for retirement is not a good idea. Yes people do this .

It is very correct to save at least 20% of what you earn monthly in order to have something to solve future demanding issues. Those who doesn't save while on service always stand a chance to suffer in the future.

 

[eojo2401]

In my country, no one should really on pension because you may not get your pension in time. Some retirees are yet to get there pension since 2013. So it is advisable to start your investment with saving.

 

[Thosynho]

Very nice informative and full of advise post. Make savings mandatory in your life, save some part of your economy for worst period like Pandemic, or diseases. But in my country pension is given by government in 2 3 months after retirement. But everyone should save and make this habit .

It is always good and advisable to start business with your savings while in active service and nurture it to grows than waiting till retirement age when you will get your gratuity or pension as stipend. No matter how small the business, start with your savings.

 

[Jimmie150]

I feel the best way one can actually plan for his or her pension is by using his or her personal savings to start up something until the pension get paid. By so doing that person would have made a very good decision.

 

[Asad Ali]

You have to realize that it won't always be profitable to start a shop. Perhaps someone invests life savings into and loses everything into a company. What will they do then, when they must retire and no money is left? People want a pension because they know that every month they have a guaranteed income.

 

[ronaldlorenzo01]

I want to retire in a mountain with my pension. I want to build farm and plant trees and everything. That is how I want it to be. I just want to see the fruit of my labor. Of course, I hope that I have my family with me to witness all of my success in life.

 

[Luckboy]

Actually I have grandma who retire around in the year 2007 before she retired she have been asking my mom what she can do after that so the best idea that was given to her is to save for the future so that when retire she can use the money to start and fund are own business and she as being doing great now since that advise give to her

 

[Eodine]

I would rather start planning for my retirement and saving towards building a business than wait for one pension money that might even take a long time to process. It is better to always have a passive income.

 

[IamDozzy]

I would simultaneously do the two upon retirement. I am currently saving for pension and also keeping small amount of money aside in my savings account. I do this every month so that by the time I retiree, I would have a sizable amount of money in my savings account to invest in any business of my choice. I would use my pension to take care of myself.

 

[Victor001]

It would definitely be out of place if at retirement you are still hustling for work, make hay while the sun shine. Be super effective as a youth to invest in your self by diversifying in multiple stream of income. Online business and other productibe engagements.

 

[Chaudhary10]

You can make a living writing. Yes, it's possible to support yourself by writing full-time. And you don't have to be famous or lucky to do it. I've done it for the past six years and have coached thousands of others through the same process, seeing many of them succeed.

You spoke wisely, I posted this up, because many people in my country falls victim of this kind of scenario. They will be earning salary and be spending it the way it pleases them. Forgetting that, they need to save some for future emergency purposes. Waiting for when the government will start paying them pension to carter for their retirement life. But not knowing that things turn around, now they suffering because government have refused some pension dues for more than 4 years now.

 

[Sariana23]

I would simultaneously do the two upon retirement. I am currently saving for pension and also keeping small amount of money aside in my savings account. I do this every month so that by the time I retiree, I would have a sizable amount of money in my savings account to invest in any business of my choice. I would use my pension to take care of myself.

It is excellent what you are doing in my opinion a very wise decision. Saving with time thinking about the future is the best thing you can do, in the future you will have a way to live peacefully with your savings and in this way take care of yourself, I have my retirement insured by the government and I also save on the side to have enough and not depend on the help of other people.

 

[richee84]

The best way to plan for retirement is to have a good business on ground through personal saving. Pension after retirement doesn't come easy, some take more than 5years because they can receive it but when the person doesn't have to wait long if he/She has a very good business.

 

[Sincerem]

The best way to plan for retirement is to have a good business on ground through personal saving. Pension after retirement doesn't come easy, some take more than 5years because they can receive it but when the person doesn't have to wait long if he/She has a very good business.

You're right. I don't see any ideal thing about waiting so long for pension. That's why people suffer financially, because they failed to own any business during their active service years. They were waiting patiently for their retirement time to start earning pension to take care of their bills. Not knowing that, pension backfires, it can take years to come by, especially here in my country. I just plan to own at least three functioning and income yielding business before my retirement time, in order not to suffer waiting for pension.