Retirement is a life process that most people cannot avoid. I believed most of us have a plan for retirement. But whether the plan can let you retired rich or poor is questionable?
A friend told me before which is few years back, when she retired she have 1M in her savings. She has planned that after her retirement, she will enjoy a comfortable lifestyle. She did achieve her goal to save up to 1M but lately she told me that its not enough for her to last till her whole life for what she has planned earlier. She did ask me what if I spend all the 1M and I'm still alive?
Is 1M a lot of savings to you? Maybe yes, maybe not. Ask yourself this question. How long you can survive if you lost your job tomorrow?
Money value will depreciate in times to come and all other factors like increase in cost of living, medical fees, education fees and etc. In that time, the money value of 1M will become very small, small till you will not be able to enjoy your retirement lifestyle that you have initially planned.
This issue happen mostly to all of us which involved in full time employment. Imagine, when you retired you have no more source of income as employment is your main earned income. Thus, it will eventually eats into your savings and will gone empty one fine day should you failed to control your expenses. Because the fear of losing your hard earned savings, you probably will have to live on a miserable lifestyle in order to safeguard your savings till the very last.
Why do you need to lead your life as such where you can enjoy your life to the fullest? Live as a rich man should live and die rich. Do not ever live poor and die poor or neither live poor and die rich. Pamper and be good to yourself as life is just once. So, how to get out of this?
Have you ever think of other income besides your earned income? YES, we need to have PASSIVE INCOME. Passive Income is where this income can generate you a recurring income even when you have retired. There are many businesses that can generate you Passive Income. You can now, enjoy your comfortable lifestyle and need not worry on the last drop of your savings. Make your effort to choose the one that is suitable for you and start now, before it is too late as time passes super fast.
Don't regret to look back when you reach retirement as there is no point of return. Start earlier earn earlier when time still allows you to do so. To learn more, do visit my website at http://www.gracewongaffiliate.com/