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❓ASK Saving 10% for 40 years till retirement. is it a good investment?

Razor1911

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Retirement plan is very important. When we do our job or earn from businesses, mostly we overlook the future plans. We mostly invest our money and time on the current situation, which is natural. But we also need to focus on the retirement plans and start saving small amount for that.

I personally do a desk job from 9 a.m. to 5 p.m. Usually the job pays me well but I keep 10% of my I earning for saving purposes specially for retirement. The amount of 10% may not be very huge, but with time the interest on it will make it go double every 10 years. In that way the savings will become huge when I will retire after 40 years. I think everyone should invest for retirement so that we don't have to court ine problem at the very end.
 

Ridorz

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In that case, it's a good idea to have saving that will be increasing in amount for future of retiremeny day. Though, I don't have a government or any company job but I'm saving out my weekly earning.
 

Razor1911

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In that case, it's a good idea to have saving that will be increasing in amount for future of retiremeny day. Though, I don't have a government or any company job but I'm saving out my weekly earning.
but that does not matter if you are a private or government employee or doing any other businesses. You must have to think about your retired life. You need to invest some amount daily for the retirement plan.
 

Razor1911

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Its actually quite nice. The earlier you plan for retirement the better it would be. This is the mistake some make. They dont make plans on time, they wait till when they are close to retirement before they start looking for something invest in or start saving. Which leave most persons unprepared
I will advise as soon as you get enough experience is the business and you understand that you will able to to save something for your retired life, you should start investing some money for that.
 

sh199

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If your yield farming is stable coins you can get a higher rate like 15/20% APY. This kind of investment would make you rich if you adding some money every month to increasing the capital. I made a plan sheet like this.
You can also make some sheets about this kind of investment.
 

BullyMaguire

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If you invest it to let it grow or use it to start a business after hitting a good amount of $$ in your savings.. but saving up in banks isn't that bad but not as good as investing
 

microunit

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10% every month for 40 years? That's quite alot of savings not gonna lie, also there are some factors that might reduce your saving like emergency stuffs
 

Emmanuel24

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Saving 10% is quite good as you'll not feel that you are saving much out of your salary. So you will be able to use it for expenses, but I will also advise you to save it in deposit bank so that it can be increasing.
 

Slender1704

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Retirement plan is very important. When we do our job or earn from businesses, mostly we overlook the future plans. We mostly invest our money and time on the current situation, which is natural. But we also need to focus on the retirement plans and start saving small amount for that.

I personally do a desk job from 9 a.m. to 5 p.m. Usually the job pays me well but I keep 10% of my I earning for saving purposes specially for retirement. The amount of 10% may not be very huge, but with time the interest on it will make it go double every 10 years. In that way the savings will become huge when I will retire after 40 years. I think everyone should invest for retirement so that we don't have to court ine problem at the very end.
Investing in our retirement is is the best decision to make .10% is enough because youy will also get interest and this will help you pay your bills but for some who own a business you can save more than 10% in your retirement plan it for you own good .Many people are rich the longer you invest the more money you make.

 

microunit

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Saving 10% is quite good as you'll not feel that you are saving much out of your salary. So you will be able to use it for expenses, but I will also advise you to save it in deposit bank so that it can be increasing.
Depends on the bank though as annual interests depends from bank to bank, we have an e-wallet here in our country and the annual interests is higher than most banks
 

CyberPreNurse

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Saving 10% of your monthly income towards retirement plan is way too much and I would rather invest that amount in a profitable business that would give me better returns while I'm still working than to wait for 40 years before making enough money from my savings.
 

Corzhens

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On a rough estimate you will be having a pension the amount of your salary when you set aside 10% of your income every month. That amount would be pretty big especially if you will invest in real estate before your retirement age.
 

Emmanuel24

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Depends on the bank though as annual interests depends from bank to bank, we have an e-wallet here in our country and the annual interests is higher than most banks
Wow! That's a good thing. I think that's why people do not have interest in bank deposit despite the fact that it's safe and it increases. The annual interest is low. I wish this one is available in my country.
 

microunit

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Wow! That's a good thing. I think that's why people do not have interest in bank deposit despite the fact that it's safe and it increases. The annual interest is low. I wish this one is available in my country.
Well cause I think digital moneys are much easier to regulate than physical ones as it can be tedious to count all the physical moneys one by one to get the exact amount
 

CyberPreNurse

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On a rough estimate you will be having a pension the amount of your salary when you set aside 10% of your income every month. That amount would be pretty big especially if you will invest in real estate before your retirement age.
Such investment idea is far better than continuously saving 10 percent of one's income for the purpose of retirement plan. Real estate would give one better returns than this saving would.
 

kaycee001

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That's quite a good plan because the 10 percent would have accumulated and amounted to a very big fund by 40 years but i think it would have been better if such fund is invested into a profitable venture like real estate instead of piling it up in financial institution that gives interest that may not equate what would have been gotten from investing such fund in a business.
 

Hashay

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One of my mentor told me that some time ago he opened a savings account for his son because of his education and kept 1% of his salary, about four years later when the boy gained admission the money was more than enough to see the boy through his admission. Saving no matter how little would be a good investment.
 

a_jerobon

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That is a very good retirement saving strategy you have there. It will really save you the agony of retiring without anything. Once I start working or earning from a business, I will start such kind of saving too.
 

Setfragil

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Saving 10% of your salary for 40 years is not a bad idea but it depends on the amounts of the salary you receive on a monthly basis. Before you can achieve it for 40 years, you must be consistent and highly dedicated in your savings.
 

Pousinha

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Very good idea, I appreciate. Unfortunately, not all employees are able to save such amount, depending how much they earn, how much is the cost of living in their cities, how much the bills and taxes. Considering that in various countries the job's life doesn't exist any more (all is temporary working contracts), many people couldn't work during 40 years in the same company.
 
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