Topic: Prepare for the life when you get old - page 4. (Read 2345 times)

So it is better to start saving while still alive because we will come to that point. It is important that we leave something to our loved ones that they will definitely benefit  like a house and lot, a small businesses and ofcourse money. But if they learn the importance of crypto in finance it will be even better. Because they are the ones I can leave my assets to if I ever disappear from the world.

at this time when this are so unpredictable we are not sure whether we will get old or not die young
one should have a good life and have some savings for a better old life.

Your uncle's case is a prime illustration of this. Despite his effort and frugality, he is experiencing financial difficulties owing to factors beyond his control. It is critical to remember that our financial condition may change suddenly, and we must be prepared for the unexpected.

Making and sticking to a budget is one of the finest methods to plan for the future. We may develop a financial safety net to assist us weather unanticipated problems by living within our means and conserving money on a regular basis. Additionally, long-term financial planning, such as saving for retirement and investing in assets that will increase over time, should be considered.

Well, life happens, no single person on earth plans to be poor

Everyone is trying to live a good life, maybe some are not trying enough but certainly, no one is comfortable being broke or not having enough to eat

Some people work so hard only to end up making just a little money, not even enough for present consumption, talk more of saving for the future

So, I think we shouldn’t blame anyone at his old who still struggles to feed, only if he/she had the opportunity to be better while still young and he messed it up

The older indeed job vacancies for us will be more limited because currently every agency that needs their employees will definitely determine the maximum age age for the participants, so while we are still young use our lives well for massh work so that later in old age we just enjoy the results of the assets we saved when we were young, For us crypto users, investing in Bitcoin now is the right time because when old people disappear, Bitcoin will be higher and we are old, just enjoy the results without having to work hard like now.

Sometimes my partner and I have a misunderstanding, especially about finances, because we haven't learned enough about how to budget money. There were times when we bought things that destroyed our financial budget, but because of this experience we had more unity on how to save for our future. We are also able to save little money, but it will be a big help if we continue. So I can really say that what you are planning will not work if your goals are different, it is really right that each one has need understanding and patience.

Many people are preparing well and even for their children and grandchildren, with business and investment, of course we can make old age happy, but if we are still working with a monthly salary that is only enough to live a month then immediately do big things to prepare for the future, If we continue to fall asleep with a monthly salary then old age will be difficult because it does not have income.

Talking with your partner and discussing everything is very important. Because we really have to manage finances well together with our partners. So that everything will be lighter if done together. But talking to your partner is sometimes not an easy matter. Sometimes we and our partners have different opinions. so that was where the obstacle that I had previously gone through and needed patience until finally my partner understood and started managing finances well together.

When I get the pinnacle of success because I have done true financial discipline I will definitely be as successful as you guys. I can also do what the financially successful do. But right now, I have to fight the obstacles in order for me to fully achieve that discipline. It's also right that my partner and I should talk properly about things and things to do in order to have good results in the future. It's really hard to be the only one exercising discipline especially when it comes to finances.

The point is we have to maximize every opportunity we get when we are young. We have to work hard, save money and invest from the time we are young. because when we are young we still have a strong and healthy body to work very hard. but we have to remember when we get old our body is not strong enough to work and of course we want to relax more in old age.

Allah SWT has indeed determined the destiny for every creature. but Allah SWT has also given strength and choice to each of us so that we try harder to achieve what we want in the future. In essence everything will depend on what choices we take. Be lazy or be a hard worker. to be extravagant or to be diligent in saving. all depends on our choice. because God has given us the power to be free to choose.

The point is that there must be a plan from the start for where the savings we have will be taken and of course investment is a very appropriate way to prepare for life when we are old.
maybe everyone knows about the benefits of investing, but not everyone has the courage to do that because of the many haunting fears, because at this time there are many investments that are actually detrimental. things that need to be known in the investment that will be made.

and for savings, I think there must be regardless of investment or not but savings must be available for many unexpected things because in life there will be emergency costs that need money as quickly as possible, and therefore there must be savings.
In my opinion, savings and investment must be separated into different, both are very important for the future.

Investment should also not be in any place if you want the amount of money to increase, because every investor will definitely see which asset has experienced the most increase in value and also an increase in demand so that it will be used as the main goal for investment. But in this case I will not make a comparison between investing and saving because the two are fundamentally very different things, the very basic difference between the two lies in the risk section.

Someone can save slowly to make more money, while an investor who uses his money to invest will automatically have a risk when he has made an investment even though it is in a place where the security level is much greater, meaning that every investor must be very aware of this because they must not forget about risk just for the purpose of gaining profit. Well, this is of course very different from saving, which basically aims to collect money every month, because if you only save once a month, that's called saving money for a while, not saving like what many people do in general.

To run an investment initially also requires capital and that of course can only be carried out by those who already have savings. So in general saving is also a very important thing even though it is very different from investing, besides there is nothing wrong for someone who wants to save every month to reach a better old age while investing in more valuable real assets and also cryptocurrency assets which is much better. That is, savings are the basic order that everyone must have if they want to make an investment to organize a better old age.

If we are 30 years old then it's time to stop useless habits such as shopping for important things, tours, traveling, culinary and so on, it's time for us to use all the money for investments such as buying land, gold and so on, if we don't do it now then we will regret in the old days.

Investing and saving are two things that any man should build if he wants to have a secure future because life is unpredictable. Don't stop looking and don't pass up any opportunity if we find it. Don't be too fanatical or conservative, just focus on one thing and ignore the golden opportunities.

After certain age people turn to be dependent on their kids or the close ones for their financial needs as well as for their mental support. In my country there is a saying aged people turn to be kids after specific age and they should also be cared same as one cares a child. Another thing is the health condition, earlier even the aged ones stay healthy and now scenario is different.

For many other reasons aged people need to have some pension fund or retirement fund kept aside to meet all the future needs. Atleast going through OP users will think of it start working on it. Beyond certain age the opportunities shrinks. So, when we have got possibilities we need to make use of it and keep everything organised for the future.

Investment is by far better than ordinary savings just like you have said but it's not everyone that have the potential to invest. Some are always scared of losing their money and due to that they fail to invest. To be financially free at old age, one need good investment that can yield on daily basis.

yeah, I also experienced the same thing. however, like it or not we need to force ourselves to find additional work for our old age, especially when the salary we have is not that big. Personally, I currently have the goal of preparing assets for old age. it might be like a house investment that can be rented out per room, like an apartment. yeah, but for now I'm still saving and working in a few places, I even put my digital assets on hold for that.

I face so many temptation everyday, so it is really hard for me to get prepared for getting old/retirement really hard. I find it possible to make a money pillow for unforeseen situations, but I find it hard to create so huge pillow, that I can be ready for unforeseen situations for many ages. In my country, people are retired when they are 65+. Starting from 60+, it is hard for them to find a well paid job. So their life saving, probably bigger part, are spent during that period during 60+ to start of retirement. It is really hard to prepare for old life financially and morally.

Your uncle's situation is unfortunately not uncommon, and it highlights the importance of being prepared for unexpected financial challenges and economic downturns. While diligence and frugality can certainly help in building a solid financial foundation, it is also important to diversify one's income streams, invest in a diverse portfolio, and seek out opportunities to increase earning potential.

Like it or not we will go through old age, many people are not ready to face old age, they are carried away with income when they are still productive, so when old age and income are not like when they are productive they start to think and regret, many parents have to work hard become market laborers, or construction workers, so we have to be prepared from now.