Many developed country nowadays provides some kind of pension scheme offered to someone who retires because of old age. This pension is contributed by worker and company or government reasonably based on certain percentage of the monthly wages. This retirement ages different from one country to another country. However, most of them are between 50 to 60 depending on the jobs. That's why you must carefully plan for your retirement days.
What should you do before retirement?
After retired, life isn't same as normal. No more needs to wake up early in the morning and rushing around preparing for work anymore. However after sometimes, you'll get tired and bored of not doing anything. Sooner or later, your saving is depleted. Then you will become tension on how to find money to support your life afterwards.
So, how are you going to handle these circumstances? The simplest answer is to plan your finance at early stages. Start making saving if you'll not get any pension money. A fix amount of your current salary should go into this saving account monthly. To do this you should do it consistently. Self discipline is crucial for making this happens. Many people fail this after a few months saving.
Other suggestion is to buy an endowment policy. This is a life insurance policy that will pay an amount of money after a particular conditions or earlier death. Some policies also make a payment when the policy holders suffer critical sickness. When choosing this kind of option, pick a term which will coincide with your age of retirement. These are just a few suggestions to help you planning for your finances.
You could do some investment too. However you should choose which one is the best, secure and promising investment. This could make you earn or maybe lose a lot of money. You also could involve in real estate. Get yourself professional advisers before getting involve in this risky matter.
What you can do after retirement?
There is much stuff you can do after your retirement. This is the best time doing things that you don't have time to do before. Many retirees choose to spend their retirement life with relaxation activities and doing their hobbies. You should go on long vacations and enjoying nice places. Whatever it is, the choice is in your hand and you should earn it.
Some of them choose to explore new career after retired. There are also retirees who join ventured in business. They would start a small shop or home based business. If you have a bakery skill, you could open a small bakery and earning money with it.
Retirement doesn't mean you must stop working. It's just a new beginning of a new life - a life full of excitement and enjoyment. It's up to you on how are you going to continues your life and contributes to the public.
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