At what ages do you intend to retire? And what plan to save enough at the time?
Sometimes we dream of retiring at 45,50 or 60. But when we reach that age we realise that we dont have the money to retire on or we will just be too bored. Being bored with money is a lot easier than having insufficient and having to work until you die.
Retirement needs funds.
If you want to retire you have to plan your retirement fund, ideally that means starting young. If you are a bit on the mature side dont worry start now and things will get better.
The best advice i can give to anyone is to start a financial freedom fund. You must put aside 10% of whatever you earn in a financial freedom fund. Dont be put off by the term fund - as long as you put some money in a safe place - jar, bank, under the bed, this is a fund. It's a security fund.
This fund can only be used for investment or for starting a business. Otherwise do not touch it.
Always pay yourself first.
This means as soon as you get your salary you must provide for yourself first.
10% to your financial freedom account
50% for your necessities
then sort the rest out.
This is the best advice you will ever get.
I'd like to retire as soon as possible! At least I'd like to have enough money stowed away so that I could do whatever I wanted (work included) and not have to worry about a pay check. 50-ish sounds good to me, and I'm ok with living within my means to get there!
Soon! Gingerbuzz has some good advice there. I would add two things.
First, I don't think we are really meant to retire so to speak. Retirement has typically meant that you no longer work. I prefer to think of it as working if and when I want to. And working on what I want to work on.
Second, you can "retire" at any age, and you don't have to have millions of dollars to do so. All you need is enough income that you don't have to work for.
by H C Palting 5 years ago
At what age do you plan to retire?Will you be financially comfortable or do you plan on retiring at all?
by Kieron Walker 4 years ago
When is the best time to retire?
by samanthagardner 8 years ago
Do you plan on working after you retire?I just read an interesting fact from Employee Benefit Research Institute 2009 survey stating that "72% of workers plan to work after 'retirement'". Could that be true. I want to know your thoughts...
by Patty Inglish MS 4 years ago
Where do you plan to live when and if you retire and in what sort of facility or other dwelling?
by sir_tallest 7 years ago
At what age and with how much do you plan to retire........And when you do reach your age and amount you have set to retire....what do you plan to do
by definitions 5 years ago
Would you retire on your HubPages earnings?
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