Old people

You are probably young and have an incredible amount of oats to sow, metaphorically speaking, even thinking about a retirement plan sounds absurd, doesn’t it? Well, it doesn’t have to be. To have a stable and carefree time in your sunset years, without having to depend on another person to take care of you would be something that everyone should be prepared for. Here are some tips one can follow to have a laid back retirement. There are ways to make sure you are on the right track to a stable financial situation. Although everyone is unique so need may vary.


  • Stick to a strict budget from the very beginning, maintain an expense account and put in only what necessities you need for your day to day living.
  • Own and manage a savings account and deposit a minimum or 5%-10% of your monthly payment into this account. You will find that this money will be incredibly helpful a lot later in your life, put the money in a fixed deposit if possible and then you can even reap the interests that you get with those. You can also instruct your bank to add your interests amount to your initial fixed deposits, and it can grow over the year in that way.
  • Hypothetically if you make $50,000 a year, aim to have that much in your fixed deposit or retirement account by the end of your 20s. Make sure that number increases year by year. Strategically planning out your finances can immensely benefit you. Start small, stow them away in a high yielding savings account. It is daunting for people just starting out their career.
  • Take advantage of your employer’s retirement benefit plans. If your employer puts in 10% of your paycheck, put another 10% yourself. Increase your contribution gradually.


  • Get on the same working and saving level as your spouse. You will have a financial impact on each other. If there are two people, then it’s easier to think about an early retirement. If two people are saving for each other, then you two are set for life. You can even retire at 50 if you want and see the world. Have complete and clear communication with your spouse about your financial situation; research shows a happy marriage leads to personal happiness in retirement.

Finally put in all your efforts to make sure that your debts are paid off, your saving exceed the retirement savings goals, importantly, have life insurance, health insurance, property insurance, etc. be insured. Bottom line, when it comes to determining if you should retire early, there are these signs to look for. Another thing to do would be to have a word with someone who is financially secure for life and take their advice seriously.

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