Topic: Prepare for the life when you get old - page 16. (Read 2345 times)

This uncle is still doing okay although with some struggles but I am sure there are millions who are broke and wish they could have made and saved more money when they were young.

Always plan for the future. What do you think ?

By saving money like banknotes, you will eventually be left with nothing; inflation is ruthless. Any money should work and not be a dead weight.
They say that for up to thirty years, a person works for a name, and after thirty, your name should work for you.
Worrying about the future begins with our childhood, education, and qualifications, and investing some of the money earned in real estate, gold, and now also in Bitcoin, which can be good insurance for the future. While you are young, spare no effort or time to build your reputation. Starting your own business and working for yourself, and not someone else's uncle, should be the goal of young people. This is the only way to become independent of employers and look boldly into your elderly future.

I think it is important to remember that not having any money is not a shameful thing, and it happens to so many people in the world. Of course we should try to be richer, but at the same time we should look for peace in our life as well. Can I get richer? Can I be so much richer in 10 years that I would be going to New York and Paris and Milan for summer shopping?

I can, I really can, or at least I can try to, I can have a goal to do that. How? Simply just gather all my friends, and apply to all types of banks all together, and sell all the assets we have, buy a plot of land in a good place, build an apartment with 20-40 houses, sell them each, and be rich, and do this some more times and you are rich. Why not do it?

Because, a million things would go wrong and make us upset and have a worse life, richer but more angry and less happy. Sometimes money and lack of it, is not the end of the world.

Giving advice in this situation is probably not very effective, because. everyone's situations are different. But... You can't devote your whole life only to earning money, otherwise you simply won't be able to enjoy the results of your work. As the saying goes, "I looked back at the end - and there was nothing behind - no family, no children, no friends, no health ... Just a lot of money that can no longer be used." In a word, everything needs a balance, and the search for more effective solutions for making money than working 24x7 but not living a full life!

This is the problem to most people who are in their peak of success, they forgot that one day it will all be gone for good since there is no permanent in this world. You can't expect to be working your whole life on the same company because somehow you will be replaced with a young ones or fresh graduates.

If you are one of them or at their peak of success at the moment, proceed to make a backup plans in case you won't be working with one of the company you are in. Invest your money or build a business that can sustain you for long or at least if it gets successful then most of the money you are earning from your work today will be put in your savings or on investment.

Last week, I met one of my uncles-in-law who has been a sailor for many years. In the past decade, he has been out of town and travelling all over the world to make a living. He has two children to raise and being a father who is always absent from their growing-up, he somehow does not know how to get along with his kids once he is back home once a year. In this transition period, usually like one month or two, he will find him some odd jobs  to make money to support his family. Unfortunately in this economic downturn, it is very difficult to find a job so he is quite upset now. Staying at home means no income and this makes my aunt very anxious. This uncle is in mid fifties and he is one of the most diligient people I've ever known. Ever since he was young, he would always keep busy doing all kinds of jobs to make money. I have to say that he made some savings for some years but it was most used up by sending his daughter to study overseas. Under today's economic condition, he has to wait more time to be assigned onboard and it is said his salary will be slashed big next time he has an offer. Well, to make a living, he has to accept that. He used to be a happy-go-lucky guy and always have a smile every day, last week I saw him, he was more like silent and upset.

As he ages, the window for him is closing. I never saw him encounter any financial problem because he has been diligient and frugal. This meet-up has completely changed my mind. Even people like him are struggling financially and we'd better prepare a comfortable life for the old version of ourselves. This uncle is still doing okay although with some struggles but I am sure there are millions who are broke and wish they could have made and saved more money when they were young. Always plan for the future. What do you think ?

I'm not really sure who's the wrong in this situation and who should I blame, but few things in order to make you survive and doesn't suffer financial problem are:

1. Make sure you don't save your money, but invest on few commodities e.g. Bitcoin, gold, stock, real estate etc.
2. Have a small business in your home, it's better if you have an autopilot business where you don't need to work anymore.
3. Teach your children how to use money in a correctly way, don't overspend and use it for luxury lifestyle.

When you're still 25-40 years old, it might be the peak of your career, don't think you can work until you're death because an old people can't compete with fresh graduate young people.

This is a common mistakes that human beings make, they enjoy their youthful age without planning for their future, you can see them going to all expensive places and traveling around the world wasting all the money they're making meanwhile they have no savings for the future or when they try investing for the future they go for scams because they're now under pressure.

It doesn't matter how much you're making today or how comfortable you're, what matters is will you be able to keep that lifestyle when you're old and can't do manual labours anymore. We should always plan for our future or we'll belike your uncle or millions of others that are now broke and unhappy.

In my society, most people used to say, who knows the future like who knows when will death come, and why struggle to store piles of cash when you will not be there to get the benefit of that? That's the main reason for not preparing for life when they get old. As you mentioned, my uncle is in his fifties and my father is too, from the last 2 to 3 years I also trying to find work and do whatever job i can do in my part-time as I am a student too. As offspring, we should worry about our parents like even if we are able to meet our education expenses on our own then this will also support our parents. Because I have faced that.

On BTT I make money and meet my educational expenses on my own sometime I gave money to my parent too for home buying. The point is as a child we should depend on our parents and have to make efforts to face our expenses on our own. As your mentioned scenario about a dad sending his daughter to foreign studies always get good results when that daughter will succeed in the fields of life and will support their parents. That's the only hope, which keeps them supported and alive.

This is a common mistakes that human beings make, they enjoy their youthful age without planning for their future, you can see them going to all expensive places and traveling around the world wasting all the money they're making meanwhile they have no savings for the future or when they try investing for the future they go for scams because they're now under pressure.

It doesn't matter how much you're making today or how comfortable you're, what matters is will you be able to keep that lifestyle when you're old and can't do manual labours anymore. We should always plan for our future or we'll belike your uncle or millions of others that are now broke and unhappy.

As he ages, the window for him is closing. I never saw him encounter any financial problem because he has been diligient and frugal. This meet-up has completely changed my mind. Even people like him are struggling financially and we'd better prepare a comfortable life for the old version of ourselves. This uncle is still doing okay although with some struggles but I am sure there are millions who are broke and wish they could have made and saved more money when they were young. Always plan for the future. What do you think ?

Always plan for the future. What do you think ?