Topic: Your aging and retirement plan is your responsibility. - page 6. (Read 1304 times)

That help from government for retired people differs from one European country to other. I live in a European country and my grandma receive only such benefits: free public transport, discounts for city-to-city transport, once per month she get some food package from "pension fund" that consist of cereals, sugar and few cans with vegetables. I would not call it even as minimum survival package for a week. I call it as total absurd, when average pension is less than minimum living wave which is less than minimum monthly salary.

While you've said it all, let it me pinned as reminder that we're opportuned to work hard and harder during when we're young and weak to handle those hard pressures during when we gets old.
So we can as much undertake those risks in planning towards our retirements as much our muscular and sensitive organs could withstand it while we're limited to risk bearing during when we're old.

Most at times, it's not just lack of plan but rather the inability to execute the plan. With the level of education and awareness about saving and investment for a brighter future, majority of our young generations have some plan but unfortunately there is no opportunities to make this plan achievable. I know quite a few numbers of people whom we share ideas with and they really have some impressive plans for their future if everything works right but here comes the challenges of heavy inflation.

It's very necessary to start early as you suggested if there's opportunity because one thing that also affect some of these aged people is opportunity, they have no access to opportunities as some of us are having now at our younger age. Opportunity open rooms for every plan you have and that's why it is very important to seize any you have.

Many people still don't care about old age and retirement and haven't made any plans. They are still busy looking for what they want, and when retirement comes, they can't do anything because they haven't made any plans or preparations.
We have seen many examples of this so we must be able to avoid things like that happening to us. We have to start making plans for our retirement now because when the time comes, we will be ready for everything.
With this plan, we will not be confused when we retire and can enjoy our retirement days well.

When they depend too much on their parents in various things then that person will find it very difficult to live their life without the help of their parents and this is a habit experienced by those whose parents have a lot of money so they don't think anything about how to get something. and will always be there when they want it, but if they can think about the future they will of course be able to manage well what their parents give them so they will be able to plan for their future and if they don't think about their future of course will have difficulty living their lives because their parents no longer think about their lives.

retirement is a phase all of us will have to face at the right time and regardless of how prepared we are towards it or not, when it finally comes, we will enjoy the period or endure it and this is one main reason why we have to make adequate plans towards it so we don't end up being retired folks that are in peril of basic life's needs.

I have seen old dudes that after retirement, what they hard left were just stories regarding how they worked hard and made money only to spend it all out with little or nothing to show for it at there old age. Fortunate for my dad, he had a great retirement plan that he has managed to execute part of it and although not yet retired, at least investing into some real estate has giving him some edge and has placed him in a position where retirement wouldn't be a serious nightmare. For me, I'm still very young and part of the greatest thing that has happened to me at this phase is that I have discovered this forum earlier enough to have known the importance of making the right investment now that I'm still young and strong and so I've already starting stacking a part of my earning into Bitcoin investments and hopefully before my middle 30s, i should have hard at least three strong investments channels that will certainly preserve anything that had to do with my retirement.

Well, it would be better if we could take lessons from the people around us. We don't need to experience the difficulties experienced by others if we can learn from observing the mistakes made by others. And so that we can learn and not step on the wrong path like others do.

Preparing for retirement so that you are in the best condition is everyone's dream. Especially if it is financial freedom. So it would be better if we spent more time working when we were young so that we could relax more when we were old.

What's the most ideal age for someone to get retired totally from their day jobs? 60 right? Well, some people of this generation doesn't seem to be bothered by these kind of plans because they thought that today's young generations has lesser chances of making it to 60 than people in the 90s or older. Simple because of the kind of lifestyle and environment we're living in today. So, most probably insurance companies are gonna get a lot of profit as the number of pensioners in the next 20-30 years will become lesser than today.
Now, people in this generation would rather enjoy their hard earned money to travel and enjoy life while they are still financially and physically abled. Thinking way ahead doesn't work for everyone though.
This is also the reason why most of these people are just depending on the government benefits when they retire.

I have seen people like this, most likely those who are extra dependent on their parents and even if they have already mature, they can’t still stand on their own because their parents too are treating them like little kids. I hate to say this but they will only realize this once their parents will not be around anymore, and it will be too late for them to start standing on their own. And another realization is that if they only use their money to plan for their future and wisely invest for their retirement soon, then they won’t have to face financial crisis the moment both their parents have gone.

Investment and business, the only way I see the best retirement plan is to have an investment that will give you passive income or build a business that you know you can grow, the thing is in the current situation in the society having one stable job and salary is not enough, while the inflation rate is keep getting higher the amount of salary didn't so eventually you will become short for everything you have expenses with, so the best option is to grind and make an investment and if you kmow you have a shot in business then build one while you are still young so that when you think your business is big enough to sustain you afterwards then you can retire and just focus on your business and you might make more businesses and investment. Like what I'm doing right now, I'm doing my best to have a good investment that could make me a good amount of money and dream of owning my own business.

Buy a Gold Dollar or equal value coin every year of your working life and the legend says you will retire and be happy and able to pay your bills.    That one track idea may not work so well in modern economies where we believe we  are beyond basic commodities especially the precious metals that have always been there.

I disagree we have surpassed any priro mistake in economics so I imagine gold will continue to be useful to some extent but not entirely would be a thing I would do.

They don't care as they don't care about their future as well. Some people start a business, put money into investment, etc because they think who will give them money when they grow old and are incapable of working. At least, they still have income aside from relying on their pension.
This should be put in our mind, even if we are poor, it is not an excuse to think about it as we are working not just for today and tomorrow but also in the following days. It should be backed up with plan and preparation as we never know what awaits us in the future at least we are ready.

many persons invest with a target handsome people does not invest with target considering retirement in working service some people does not think of investment that they will benefit after they have been retired from their government work so from my own understanding concerning a bitcoin investment it is someone that is alive that will benefit and also someone who knows the rules and regulations or bitcoin and the timing of investing in Bitcoin be the one that will profit into bitcoin investment

This is where active trading is advisable. Nothing compares to that. Except a trader develops a mental illness or is incapacitated in a way that their mental health is affected, nothing stops them from earning till they drop dead. Trading is stress–free on the long run. It's just that most people don't want to endure through the learning process first. Profitable traders keep paying themselves for life and they're pensionable by themselves without depending on anyone. They won't be vulnerable financially once they're profitable.

So true! Only a foolish person falls into the same pit they see someone before them fall into.

On the time that you would really be getting your retirement pay then this is the time that you would really be making yourself that being confident that you do have that huge money but same as you said that
majority of those people would really be ended up on losing it all due to mismanagement of those funds on which this is something that we do really need up to consider specially when we are already old.
Always put up into our minds that not all our kids or children would really be looking back at us on the time that we do get old and this is where some people do really think up of in this regard on which this is really very wrong. Always think up ahead about into those things when you do get old.

Yes, we dont really need up that much money but dont come into a point that losing it all or on the time that you have a hard time on surviving on your daily needs on which this is
an absurd thing for you to do so. This is why it would really be better that you thinking up differently.

I don't have any plans for retirement. I can manage the current situation well. Maybe in the future, I can start saving bitcoins for old age. I think I can save it in a separate fund that I can use only for old age, without touching it. This is something that is our responsibility. Some people do not care at all. Of course, they feel like they will not grow old and will always remain young, but this is an illusion. The needs will always increase in old age, so it will be beneficial to leave some savings aside.

Well everything you do today is a preparation for tomorrow, if you do nothing you will surely suffer tomorrow because you will not prepared, in my county many people get thier retirement pay at thier retirement age that was millions but still they turn into poor because they did not use thier money wisely, we need to use money wisely and make a profit on it to avoid becoming poor in a long run, our future is our responsibility so we need to prepare for it.

In my opinion, failure occurs because the planning we do cannot work well and no one plans failure for themselves and I agree with what you say. It is very important for us to be able to have plans for the future because we will never know when we will will not be able to do work that can provide us with income by having a plan for the future so when the time comes when we are no longer able to do work, we can enjoy the results of what we have prepared while still able to work.

For those who can only earn enough to eat, of course it will be impossible for them to think about their future so this will continue until they earn enough income for their needs and some of it they can save, but this will it is very difficult if the country where they live does not make it easy for their people to generate a decent income for them.

Yeah and that is why people keep on working until they get old it is because they don't prioritize investing in assets that could help them when they decide for an early retirement. It could also be that income is not enough or could have a lot of factors like overspending on wants rather than needs, vices, gambling and more. For me crypto has huge potential when it comes to future investments so choose the right one. Good luck.

Whatever you stated is all common sense basically op. The majority don't bother with retirement plans due to various reasons while the minority make effective retirement plans in advance in a smart manner.

HODLING BTC and other crypto could possibly be a great retirement plan if luck is on your side thanks to their extremely volatile nature.