19 Jul 2017

The Ugly Truth Behind Saving For Your Retirement

We have heard a lot of advice from our parents, our mentors…even our friends on how we should handle our money. God knows how much “financial advice” we get from our wives. But here’s the deal – are these all true? They can’t be, right? I mean what works for one might not work for another.

Saving For Your Retirement

There are gospel truths in the world of finances though. Valued advice that you can hold on to. And that’s what we’re going to share today, retirement edition. Ready?

Ugly Truth: It’s never early to save for retirement.

You need to save for your retirement as early as you can. In this way, you will have more savings and you will only be saving a little bit from your regular earnings, given that you’ll be saving your money on a regular basis as well. Waiting for the last minute to save will only create pressure, frustration, and honestly, can you really save that much for just that short period of time?

Ugly Truth: Social Security is never enough.

Here’s a lie. You can’t rest easy because you have social security. And here’s the ugly truth, your pension is not enough to give you a comfortable life after retirement. You still need to have something to supplement your income.

Ugly Truth: People are scared of investment.

Finally, here’s a sad and ugly truth, people, especially millennials are just too damn scared to invest anywhere, most especially in the stock market. Why? It’s because they saw their parents lose everything during the last economic bubble in 2000. At least their parents took the risk. How about you, do you want to take that risk?

Regardless on what you want to invest on, what you should work on is careful research. Plan what you want to do with your money and how you want to invest it. And again, whatever you do it’s still best to start early so you have lots of room for trial and error. I hope that this article has helped you out, have a happy retirement!