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Investing for Retirement

Discussion in 'Business' started by Carterclark, Dec 31, 2017.

  1. Carterclark

    Carterclark New Member

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    What if I told you that putting just $100 a month into a retirement account could guarantee you over $1.3 Million when you retire. Would you believe me? Well you should!

    The calculation I mentioned above was an example of a IRA (Individual Retirement Account), and the ability to retire wealthy, despite the fact you lived poor 65 years, is very possible.

    The #1 thing in this world that separates rich people from poor people is financial literacy. I could hand most of you $250,000 and it would be gone in a month. You could make $250,000 a day, but if you spend $250,000 on liabilities and useless things you are just as poor as the man who makes $1 a day and spends $1 a day.

    And to the people who say “that’s in a long time, I’ll figure it out” (Retirement), or “investment is for rich, white, old men”, you will never be successful with that attitude.


    Always think about your future. Always think how you can become wealthier, always think how you can make the world a better place. These are the 3 things all wealthy people, on a basic level, operate on. I hope you can join them one day. All it takes is a 30 second google search to find investment tips and finance tricks. Good luck!
     
    Last edited: Jan 1, 2018
    Matheus likes this.
  2. Matheus

    Matheus New Member

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    People often say that there is not money to invest, but to have money to invest you need to have a good financial control and not spend much money on things that are unnecessary or that could be avoided.

    The secret to saving money to invest is to pay you first, in other words, you should save a specific amount to invest as soon as you receive your salary and then you pay your bills with whatever remains.

    For example, you could separate 20% of the value of your salary to invest and be able to live with the other 80%, this way you will have a good amount of money in future.
     
  3. Ruse

    Ruse New Member

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    In a world where people's finances are typically locked away and not talked about, I believe opening up the gates of financial conversation will help everyone live a better and smarter life.
    While the ability to retire may seem like a distant and unreachable goal for many, the premise comes down to one thing. You need to invest money so that it earns more money. As soon as your investments earn enough money for you to live on each year you are able to retire. These investments could be stocks, bonds or real estate.
    The key take away is, cutting your spending rate is way more powerful than increasing your income because no matter how much money you make, decreasing your spending will speed up the process of early retirement.
     
  4. AWorld8Part

    AWorld8Part New Member

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    I have also found that one of the best ways to gain financial control is to eliminate regular bills from your budget and from your life. Doing away with weekly, monthly, and semiannual payments will free up much more money than you could ever imagine. This is money that you can then begin to stash away for retirement, or a rainy day, or to keep for emergencies. I have also learned to pay cash for everything, which was nearly impossible at first, but which became my path to liberation.

    I have discovered that you do not need to be rich to live well. There is a difference between having cash and having cash flow. Having cash requires you to always work more in order to "save" more. Cash flow, however, is when you are able to spend less than you make, and create the energy of money by maintaining a dynamic connection between input and output. I think this is one of the key secrets that all wealthy people understand, and it is what separates those who live well and those who do not.

    When we focus on accumulating, our wealth becomes static and difficult to maintain. When we focus on flow of resources, living well becomes attainable and costs so much less to achieve.
     
  5. xxxgone

    xxxgone New Member

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    Of course the number one thing about investing for retirement is to start early. The reason you wealth grows from a simple $100 a month is not because of saving but because of compound interest. Starting at 20 compared to 30 makes a huge difference of 100,000 dollars despite you only putting in a few thousand dollars more. Starting to invest for retirement at 50 makes no sense, by then your already screwed. Just invest early.
     
  6. Cessnavie

    Cessnavie New Member

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    I am now 32 years old and I am now preparing my retirement through enrollment to life insurance. Aside from life insurance, my husband and I invested to housing business. We bought another house for rentals, which the monthly income is automatically deposited to our bank account. At the moment, we are still thinking of other ways to prepare our retirement. We believe that we could not relay our lives when we get old to our children because they will build their own family also.

    Most of my friends say that "It is still early to prepare our retirement. We have to enjoy our monthly income by traveling." However, we want to secure our lives in the future. It is difficult to depend on my children and relatives. My husband and I would love to live without being burden to others. We witness most of our parents' friends are financial constraint and homeless because they were not able to prepare their retirement. And, we do not want it happen to us.

    The early you prepare for your retirement, the better- less hassle and worries. So, prepare your future now through investment and savings. Let us save and invest for our future.
     
  7. BTwrit

    BTwrit New Member

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    This is a great topic but you didn't mention how the $100 translates to $1.3 million nor how long that would take.
     

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