Topic: Prepare for the life when you get old - page 14. (Read 2315 times)

We all know that we are not strong all the time, these are the people who are overseas workers who decided to be far from their loved ones just to provide for the needs of their children and spouse and dream of buying their own house and land.

It's just sad because OFWs spend more of their time working without being with their loved ones which is a sacrifice just to give the dream they want to their family. That's why you should be wise in saving money in addition to supporting the children so that the time you worked for a long time is not wasted.

The OP is correct, plan for the future and save money because from the OP's story, we see how vital it is to prepare for exigencies and unplanned expenses. Just like the OP's uncle-in-law, a lot of our uncles are in similar situations as they grow old therefore, we must take a leaf from this story- if we want to be live well and in abundance when old, financial planning are saving are important. For the young people reading this, if you have a family or when you have a family, do ensure that you strive for balance because in the long term, your job may not be there but your family would and if you didn't create time for them then, it will backfire in your old age.

I think very important points explore by the OP how important for preparing when we got old, since over 60 years above difficult getting job with higher salary and we need prepare it before reach 60 years old have saving assets include as stock or save money in cryptocurrency and earn passive income every month.

However saving money in the bank will get inflation later when have been old and seems not effective, I think by holding cryptocurrency assets, invest on property or gold then having several percent of stock sure most profitable preparing when we got old than saving money in the bank. Just think which one most profitable assets without an inflation yet for our future when retiring from working.

You should be profiting even when you are buying in those type of investments. Real estate is a good investment only if you make a good purchase. For example, a friend of mine bought his house a year later than us, and paid %25 less than we did, however while ours went up a bit, his went up a ton. Because he bought it at a great place that would gain value and that is how he profited.

I personally want to get rid of our old house and buy a new one, basically trade our old one with a new one, and you can't do that straight up without paying, but if you go a little bit further away from the main part of the city, then you can do it. So I suggest making sure that you make a good decisions when buying, then selling becomes easier.

Good point, we have to work hard in our youth until we reach financial stability. And in my view,  it would be better if you invest in yourself at the beginning. Try to read some usefull books in your field and get effective courses, they really help to build your skills and improve your mindest  and believe me the more  your willingness to learn is high, the more  possiblity or chance to achieve success.

Furthermore, don't lose your time on unnecessary and useless stuff. the social media is full stupidity and regrettably lots are attracted to these trivial things.  it should be great if you Isolate yourself if needed, and work hard until you build your own empire. Plus, having a futuristic vision is very helpful nowadays , it is like expecting the future and getting fully prepared for sudden events. Otherwise, if you get old without reaching financial stability and achieving your goals, that's not the end of the world and it is never too late to change your life.  KFC's founder became wealthy at old age ( 60 yeas old  ).

But we should to have rest as well. Not all the things we need for our future is all about money, we should focus in our health as well such as physically, mentally, spiritually. We cannot enjoy these things if we are having an illness or sick in the future. As much we will strive to get more money so that we can earn more we should also realize that all things must be balance, and taking care of our health is an investment too.

Preparing for old age is important because we will no longer be able to do work like when we were young bravely and passionately, in my perspective it would be sad if I burdened myself with my children in old age even though that is what is natural as a child who is devoted to their parents, having assets that have potential for the long term is certainly a priority choice in solving this problem, maybe there are some that are potential so that old age can get passive income every month including maybe in the property sector, gold and even Bitcoin as an asset will be very valuable (besides the business or company that will be inherited) in old age as a support for a carefree life in old age. I also think I'm not paying too much attention to insurance this time, because I'm still relatively young and still looking for the best solution for that.

It is nice to have plans for the future and all, but same reason as how they initially plan their lives also, anything won't go according to your plan. This is also one thing you should consider, since who would ever want to be in that kind of position given that they have planned their whole lives as you've stated? Nobody right? For sure they have also regrets which is unimaginable for someone like us who's not been on that kind of position as they are. That is more likely the reason why we should be kinder to those people and learn from them as they are someone who is part of the history in which you could be the one repeating it one slight mistake. Most of the people would say "he chose the wrong options in life even if there are other options", Yes there is, but if they actually knew that from the beginning wouldn't they have chose it since it's more beneficial? I can say this because some of my elders and even my grandparents who have tried different methods to expand their business ultimately failed, and I know that for me although I can get enough knowledge to say that I am wise enough not to repeat the same mistake, I am somehow thinking that what if I am already repeating the same mistake they did? I am also unsure what the future holds and what I am gambling and risking right now is worth it or not.

What I and you write about has another problem. Lack of proper financial BASIC education, and gaps in basic education on how to organize your business, or generate passive income. The road through estrangement from the family and going to work, this is all due to the lack of experience and knowledge. This problem was experienced not only by you and me, but millions more people have experienced it, are experiencing it and will continue to experience it. Instead of "learning from the mistakes of others" by studying the problems of others, we go "our own way", which is almost guaranteed to lead us to the same problem that others experienced. There remains a very important point - the awareness of this problem and the adoption of cardinal decisions to change the situation. But this can already become an unsolvable task.
Therefore - before starting something, it is very useful to study the negative experience - it is he who is the most significant and important, and is guaranteed to reduce the risks, we ourselves will fall into a similar situation.

The way you dress your bed, that is the way you lay on it, let us be diligent and hard working in our young age,and know how to invest and save money, and do a small scale business that will bring income,the best thing is children,let us train our children in a good,train them to school make a good investment for our children,we are preparing a place to stay for our old age.and business investment,invest a lot when we are investing, make business and establish the business.Our children is our bed when we train them well,we will enjoy our old age or benefits from it. And always work hard and invest well when we young, so that when we get we enjoy from it.

I think when we are young we have to be diligent and invest for us in our old age, don't let it be when we are old we are still working, so when we are young, we have to work and invest so that in old age we can enjoy life because all the money we invest will work for us (make money work for us) so that when we are old we don't get dizzy about financial problems.

There are many stories that someone experiences difficulties or goes bankrupt in old age, they don't have anything and even have to live in a small rented house, from the many facts, it is time for us to think that our old age must be brilliant, use our youth for investment and work optimally then saved so that old age becomes a pleasant time.

And this applies to everyone, they are of course required to be able to take advantage of their young age to be able to prepare at least provisions for old age which at that time will be difficult for them to change, if they don't start young, and this I think is very important and applies to every individual, maybe many of us have planned it either in investing or something like that that can provide at least preparation in the future.


All of this is a very good preparation to do now for the sake of preparing in the future, choosing the option of saving and investing is a wise decision in my opinion, because we will reap the results in our old age, therefore now we highly recommend it to us. everyone starts planning preparations to get good results in the future which is the rest period.

Maybe it can be very good for you in your old age, but I still think that for now I still have to work harder to have important assets that I can enjoy in my old age. Because everyone will have children and everyone will also inherit their wealth for their children to manage properly and continue to earn income that can be enjoyed together. And for now I also haven't thought about the insurance problem like you said because maybe I can get another solution that is just as good as that.

Sometimes time seems to go fast, I used to be a child but now I have children, preparing for old age is important and a priority so that we don't have to be difficult, in old age the needs are of course more and more, for example is health, I take old age and health insurance what I can and I hope with these 2 types of insurance can make my old age not difficult.

I had this thought when my home back then became like a prone to flood especially that we were at low-lying areas at that time. It became a passive income for us afterwards after we move out. Knowing that this would be a great investment in the future just gave me a financial cushion to my old age at least.

There would be days that we cannot afford to just work anymore even if it is still an office job.

Correct. even if we have several children and all of them become successful and wealthy people. then still we can not depend our life on them. because our children and our siblings also have their own lives. they have their own family in the future. so we only have to fight for ourselves in the future and prepare for it from now on. To be honest, I'm a person who doesn't want to bother other people much. and so also when I'm old I want to live in peace with a healthy body and without worrying about money because I have income that continues to flow as a result of investment when we were young.

investing in property, real estate and others is very good as long as we see good potential for the future.

While being young also it is good to take advantage of your productivity since you have a lot of energy to spare, unlike when you get older, you get tired too easily and some things aren't just the same as to when you have the energy to do it. It is a good mindset that you are planning to save for investment for the sake of your future. Even me myself up until now is still saving as long as I can since we do not know what will happen in the future, even if we say there is someone who's ready to help you at any given moment. Nobody also knows what battle they will be fighting in the future same as you do. Problems can occur, but it is much better if you have enough preparations so that even if something doesn't go according to your plan in terms of financial management, you won't be having a hard time or at the very least the burden will lessen.

This is the reason why some times I think about I should invest on real estate property to prepare for my future. I can use this to make a rental property which I can use to survive on my old years since its to hard to rely on your son or relative since for sure they have their own struggles and better to have that to avoid losing money to use on daily expenses. While we are young its better to grind more opportunities so that we can secure our future.

yeah it's true what you say. because we have to try our best since young. so that we don't have regrets in the future or when we are old. Maybe we also have to be a little bit harder on ourselves like living a disciplined life in everything, especially in managing our finances. when we are young normally we want more fun. but when we remember that we must have preparation in old age then we have to hold back a little. and more to save and invest. and continue to develop ourselves and our business. so that we can live comfortably in the future.