Your aging and retirement plan is your responsibility. - page 7.

MiF

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Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

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.

boty

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Quote from: Kelward on April 23, 2024, 06:48:47 AM

It's true that if you fail to plan, then you've planned to fail, therefore it's very important to plan for old age, because old age must come, unless the person unfortunately dies young, in old age you won't have the strength to work and earn money to take care of your responsibilities, without help from loved ones, the person will live a miserable life. So it's very important to have budget for your income, and try to save and have an investment, no matter how small, so you can fall back on them when you're old.

Although many people especially in underdeveloped countries where poverty is much, they don't even make enough money to feed their families, not to talk about having savings or investments, they're so impoverished that they only struggle for food to eat. In their own cases, you can't really blame them for not saving or investing for their futures, because even when they have the mindset to invest, their poverty will not let them to actualize 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.

0t3p0t

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Quote from: Fiatless on April 21, 2024, 08:35:06 AM

The bad economic conditions in my country have made survival my most important priority. The high cost of living caused by inflation has made survival difficult and saving impossible. Most of my colleagues in my workplace are taking loans to survive because our salary cannot cover our monthly expenses.

However just as you said OP, we have to plan for the future because the time will come when we might not have the strength to work as hard as we did when we were young. Seeking alternative means of making extra income should be an option to enable us to save and invest in viable businesses. Bitcoin is a good investment option and using the DCA strategy is advisable.

Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old age times would be.

Anybody who fails to make use of his opportunity at a young age will have to suffer the punishment of wasteful spending. The understanding that there will be a time when you might not have the opportunity you have now to make money triggers the drive to keep saving and investing for the rainy days.

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.

Haunebu

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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.

erep

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Preparing retirement savings needs to be done early on as a source of income when you are no longer actively working due to age. The reason it is important to prepare retirement funds from the time you are still productive is because the needs that must be met in retirement are not small. The high cost of living due to inflation that occurs every year makes expenses increase. If you already have savings for old age or retirement, you will avoid worrying about the amount of expenses when retirement arrives.

Another benefit of preparing retirement funds is so that you don't have to depend on other people such as children or other family members. If you have prepared for financial freedom during retirement, you will reduce worries about financial resources to finance all your needs.

Don Pedro Dinero

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Well, that depends. In many European countries, if you have nothing when you retire, the state gives you all sorts of benefits, and even before you retire. What happens is that these benefits are only for subsistence, not much more. But knowing that the state network is there makes many people not to worry about their retirement. However, the best thing to do, even if you have a public pension in the future or benefits if you are not entitled to a pension, is to supplement it with savings and investments throughout your working life.

sunsilk

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Quote from: angrybirdy on April 23, 2024, 06:46:15 AM

Quote from: sunsilk on April 23, 2024, 05:49:19 AM

Every retirement opportunity, we have to take it and prepare for it. Because while we're strong right now, we don't know what will happen in the future.

We have no idea if we still have the strength to carry on and keep going on with our employment. That's why we need to be wise in preparation of our retirement plans and investments as well.

If you're very well fortunate and you've got all the means to invest, enjoy and save your money. You're one of the few that will have no problem with your future but again, you don't know what might happen in the next day so prepare for it because no one is there to help you out but only you.

That's right, once we work or earn money, we should also prepare for our retirement, we should not only focus on investment and savings because we are not sure how long we will have the opportunity to earn money. It's hard because if our retirement is only dependent on our children in the future, let's stop that mindset, we ourselves should manage and prepare for that because our children will also have their own lives and own family so they shouldn't be forced to do that kind of thing for you.

Actually, investing and savings are part of retirement and that's also part of the preparation that we're doing. And with your investments, you'll choose what's going to help you set for life and you should be wise on it.

If you're into opportunities that are short term then you have to make sure that you shouldn't miss any of them when there's a chance to make a profit.

And you don't forget to help but before anything else, you have to help yourself first and establish those ways of making money before you become too generous to other people.

But I've seen people believing about being generous is also blessing them back but, you don't have to give all of it because again, going to the main reason why you're working hard, investing and saving a lot and that's because for your retirement.

Kelward

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It's true that if you fail to plan, then you've planned to fail, therefore it's very important to plan for old age, because old age must come, unless the person unfortunately dies young, in old age you won't have the strength to work and earn money to take care of your responsibilities, without help from loved ones, the person will live a miserable life. So it's very important to have budget for your income, and try to save and have an investment, no matter how small, so you can fall back on them when you're old.

Although many people especially in underdeveloped countries where poverty is much, they don't even make enough money to feed their families, not to talk about having savings or investments, they're so impoverished that they only struggle for food to eat. In their own cases, you can't really blame them for not saving or investing for their futures, because even when they have the mindset to invest, their poverty will not let them to actualize it.

angrybirdy

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Quote from: sunsilk on April 23, 2024, 05:49:19 AM

Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

Every retirement opportunity, we have to take it and prepare for it. Because while we're strong right now, we don't know what will happen in the future.

We have no idea if we still have the strength to carry on and keep going on with our employment. That's why we need to be wise in preparation of our retirement plans and investments as well.

If you're very well fortunate and you've got all the means to invest, enjoy and save your money. You're one of the few that will have no problem with your future but again, you don't know what might happen in the next day so prepare for it because no one is there to help you out but only you.

That's right, once we work or earn money, we should also prepare for our retirement, we should not only focus on investment and savings because we are not sure how long we will have the opportunity to earn money. It's hard because if our retirement is only dependent on our children in the future, let's stop that mindset, we ourselves should manage and prepare for that because our children will also have their own lives and own family so they shouldn't be forced to do that kind of thing for you.

sunsilk

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Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

Every retirement opportunity, we have to take it and prepare for it. Because while we're strong right now, we don't know what will happen in the future.

We have no idea if we still have the strength to carry on and keep going on with our employment. That's why we need to be wise in preparation of our retirement plans and investments as well.

If you're very well fortunate and you've got all the means to invest, enjoy and save your money. You're one of the few that will have no problem with your future but again, you don't know what might happen in the next day so prepare for it because no one is there to help you out but only you.

Smack That Ace

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Quote from: Solosanz on April 21, 2024, 09:52:23 AM

Most people who don't care about retirement is low or low middle class people.

Their parents didn't teach them how to manage money, their curiosity make them want to explore anything and since they always get bullied due to being poor, now they want to prove anyone if they have expensive stuffs.

It's a trauma that makes them like that, since I'm not in their shoes, I can't relate and they might have a point for doing that.

If you weren't in their situation, you don't know why they did what they did, how can you claim that their parents didn't teach them or they didn't think about it? And what social class do you belong to? Are you rich? How do you have the right to criticize middle and lower class people? The poor are still struggling to cover each daily meal and maintain their lives, they also want to have a retirement plan but they don't have enough time or energy to do it.

I have a good income but have never dared to think about retirement because the future of my two sons and taking care of my parents is what I aim for. My parents have worked hard all their lives to raise me, I don't want them to live the rest of their days hard, and I need to prepare my two sons for a future not inferior to their friends. I don't have enough time to think about retirement, and I will prioritize more important things than my retirement.

shield132

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Quote from: Solosanz on April 21, 2024, 09:52:23 AM

Most people who don't care about retirement is low or low middle class people.

Their parents didn't teach them how to manage money, their curiosity make them want to explore anything and since they always get bullied due to being poor, now they want to prove anyone if they have expensive stuffs.

It's a trauma that makes them like that, since I'm not in their shoes, I can't relate and they might have a point for doing that.

I can tell from my experience that Americans and Europeans care the most about retirement plans. In my country retirement plans don't exist, people work till they can or die. Too many people in their 70s work where I live and I have even seen some 80-year-old people working as a cleaner and in farming.
In poor countries, young people don't earn enough to make savings and when their parents grow older, their kids, now adults, have to feed them and take care of them. Years pass, parents die and these people still don't have any money saved. Then they get older without a retirement plan and then they end. That's what lifecycle looks like in poor countries. Parents luck education and their children have to pay for it.

God bless u

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Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

I think it should be left to the person who has sacrificed his whole life while serving his family and friends. Now after all that hard work you want him again to make plans for the future?

That is not just, after the retirement in my opinion the person should only be responsible for himself not any other person. This excludes the responsibility of an handicap person rather all should be responsible enough to take care of themselves. For himself be should make enough plans to survive till his death.

Silberman

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Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

The young often believe themselves to be invincible, and in a way they are, however they fail to see that those that are old now were young at some point during their lives, so on the future they will become the old people they see while someone else will happen to be young, so while they are still strong and have a lot of time on their hands, they need to use their time and money wisely, and that is precisely what many people refuse to do since they see those days as being too far away, but eventually they will become old and despite knowing all the problems the elderly have to go through, they will still be caught on the same dilemma, and at that point they will have almost no opportunity to reverse their situation.

bakasabo

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OP has touched a very interesting problem among current working class. I notice a lot of people who does not bother about the amount of their pension, they dont do any savings, they dont know anything not only about retirement plan, but some of them dont know even about retirement age in their country. People from 18 to 30 I consider as still young, and their life is still something "fun" or "for fun". Their maximum is to save during year and go on a 7-14 day holiday abroad. From 30 to 40 many start to thing about making a large life purchase, like new expensive car or property. From 40 to 60 credits are on their mind mostly. From 60 they start to think little about what they going to do when they retire, and how to survive on 400-800 EUR pension.

Helena Yu

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Quote from: btc78 on April 22, 2024, 09:52:50 AM

There is so much hypocrisy and lies flashed in social media that everyone nowadays have normalized being fake and presenting a fake persona for the sake of appearing as though you have you life together but in reality a lot of these young kids do not know how to handle finances and would most likely end up without any savings nor retirement plans.

Correct, most of young generation nowadays live based on what they see on social medias.

If they see someone wear branded clothes, they also want to wear that.

If they see someone else boyfriend give jewelry and expensive bag to his girlfriend, other females will demand to their boyfriends if they also need that even though their boyfriends only work in McDonald.

Quote from: shinratensei_ on April 22, 2024, 10:17:41 AM

Honestly can we blame them though? these younger generation just still don't grasp some common sense such as if its too overpromising it might be a red flag after all they are still young and they just don't really know how finance works, some younger generation even thinks they could make a ton of money from trading alone meanwhile the experienced people knows that trading isn't as easy as many people have depicted and also most of the time to make big profit it also requires big capital.

This is why common sense is needed.

If they believe they can make a ton of money from trading, try to trade, if it goes otherwise, they can quit and stop to believe if trading is easy.

Dzwaafu11

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Quote from: Egii Nna on April 21, 2024, 11:02:39 AM

what is to be considered is that those that get to their retirement age are older people who have sacrificed almost all of their lives working for a company, an organization, or the government. which a person in that age is supposed to go and have an effective rest of their life because their life is almost going to end, so even though they have the money that they have already saved, they deserve to have effective care from their children and their grandchildren because, at their age of retirement, they need to rest and be cared for because of their old age.

Someone needs to get a means of earning money regardless of their age. Even after your retirement, business is still very important. Those who retire have children and grandchildren, so even if they establish a business, it is still okay. Although they may have money after their retirement, any money in your account as long as you touch it will still be gone, and you will go broke. So why not use this opportunity to not get anything to do and make yourself busy with your personal business?

If someone is retired, they need to get a business in case of any family emergency that will need money and other things. You know that if you save money and don’t work anymore, you will still go back to your savings, so it is better if you create a business before you touch your saved money; if not, it will finish and you will go broke again.

Quote

So I don't think it is advised for them to work again or have a business because it will add up more stress than reduce it.

It is advisable to get businesses after retirement, However stress ever finished if you on this earth, the best thing is to limit yourself from the kind of things you do, and know the kind of business you create since you are old enough. But for you to stay at home eating your saved money, without getting another source of income just know that the money will later finish and you will go back to where you were coming from.

SmartCharpa

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Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

You don't have to blame anyone who didn't have time to save or achieve anything in their life when they were working under the government. We are not from the same country but sometimes you will be thinking that if you are the one in that position with a government job, you will work hard to make a lot of saves before your retirement time comes but immediately you get into the position and start receiving a salary, at that moment you will begin to have many problems in your life because some of us our family depends on us with the little we are managing, so what time did we have to save money? Everyone knows that government work cannot last forever, we can only serve the government for a few years. Let's just pray we don't find ourselves in a solution where we will work for many years and end up retiring without any savings.

Fortify

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Quote from: AVE5 on April 21, 2024, 07:43:56 AM

I came from a society where majorities are not bothered about their retirement plans, Some do have the financial resources but due because of financial revenue opportunities, they feels so reluctant and comfortable without considering that depending on the government opportunities could get to an end somedays. I don't know if they ever have the picture imaginarily about how their old ages times would be.

While I've come way too far thinking about this as I also goes around the towns and sees old people aging so helplessly as they're vulnerable, I fear not to be in such situations so then, I'm striving on making positive differences.
I've decided to have a diverse of my bitcoin investment for my retirement purpose.
At some points in life, you don't expect to be thought lessions before you could learn but you can learn from others experiences.

It's true that social safety nets in many countries are evaporating or getting worse. Generations before us had much greater financial resources available. I can only imagine this is because vast amounts of wealth is accumulating with relatively few people and governments are doing an ineffective job of taxing them correctly. These billionaires do jurisdiction shopping for their banking needs and it needs a concerted global effort in order to push back on that. The wealth these billionaires have is hard to comprehend but could allow hundreds of thousands, if not millions of people in their home countries live on a more affordable income. You really have to look out for your own financial needs these days, because people are always trying to sap money from your bank account.

Promocodeudo

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Quote from: mindrust on April 21, 2024, 09:38:15 AM

Most people don't think about planning their future when they are young and then they get very sorry later on. Everybody should plan their own retirement program and manage their own retirement fund. Our parents don't teach anything about it because they didn't need it and schools don't mention it because it is not in their interest. If you realized this when you are young, then you are pretty lucky because you have a long life ahead and that means you have much time to plan your future. A diversified portfolio of crypt & stocks will do wonders in 10 years. When your portfolio grows bigger, you can even add bonds and real estate to strengthen it. Remember, take more risks when you are younger and less risks as you get older.

Many people don't think about what old age have for them, they are just after the immediate enjoyment and flexing but forgetting to plan for the later days, this life has to be planned if not regret will always continue to occur because of doing the right at the wrong time, some people feel that retirement plans should only be for workers in the private or government firms but the truth is that retirement plan is for everyone no matter what you do for a living, I think people should learn how to save in other not to be a victim of circumstances, there are many investing one can do apart from Bitcoin, though Bitcoin investment is good but someone can invest in real estate, just imagine when you own a house that you are getting a rent from at your old age i think that can help too.

Topic: Your aging and retirement plan is your responsibility. - page 7. (Read 1489 times)