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[Razor1911]

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.

 

[a_jerobon]

I am pretty sure saving 10% of your earnings is a good investment. The most important thing when saving up for your future is that you do not completely deprived yourself from things you might need to do presently. What am trying to say is save and invest according to what you can handle or deal with.

That is very true. You should never deny yourself you basic needs for the sake of saving for the future. But as long as you can afford your basic needs and bills to live a comfortable life then still get enough to save, go ahead and save money. That 10% investment plan is very awesome.

 

[TAH123]

This is a good idea. It would help you out when you get at the age of retirement.. Let's do some math.. Suppose you're earning 1000$ (1000$ is a big amount in our country) every month. So, you save 100$ per month. It means each year you are saving 1200$. In 40 years, you would have 48000$ + the interest (%)... So, it's not a bad idea at all

 

[Marcelino1]

That is very true. You should never deny yourself you basic needs for the sake of saving for the future. But as long as you can afford your basic needs and bills to live a comfortable life then still get enough to save, go ahead and save money. That 10% investment plan is very awesome.

Probably, anyone that want to save reasonable amount of money must try as much as possible to deny him or herself some certain things.

You must cut down on your expenses in order for you to be able to save something at the end of every month. if you are living a flamboyant lifestyle you need to drop it and try to save money.

 

[Horia_10]

Saving 10% for 40 years won't make a big difference with this inflation and therefore you have to analyze that you just need to start a business the money will multiple and give you atleast 1000% return in 40 years vs saving in a bank which is nothing and a nonsignificant profit indeed .

 

[Ofonime]

Saving 10% for 40years is a good budget and practically I beleive that saving this amount of money can bring you good result but the issue is will you be able to keep to this I just want to know.

I save more than that in two years but after some time I was forced to discontinue that action but reduces it to some certain level that is just 3%.

I work and save and its a very good decission anyone can take the money can be use for future investment if you lack and need money to start investing

 

[Skysaint]

I think it should depend on the nature of job you're doing and the responsibilities you're expected to shoulder after you've retired from work but generally, I think that's a good amount to set aside for the future but if you should ask me, I would say that you shouldn't just let the money waste away in your bank account.
I think this should give you a good opportunity to invest into something that will yield you good returns in years to come.

 

[a_jerobon]

Saving 10% for 40years is a good budget and practically I beleive that saving this amount of money can bring you good result but the issue is will you be able to keep to this I just want to know.

I save more than that in two years but after some time I was forced to discontinue that action but reduces it to some certain level that is just 3%.

I work and save and its a very good decission anyone can take the money can be use for future investment if you lack and need money to start investing

Staying disciplined with such a goal can be so hard indeed. That is why it is best to set an amount that you can afford to save regularly and stay discipined at it.

It could also be great to have a long term investment method. Investment is great because it gives you back some money. You put your money away so that it can work for you.

 

[Meklo]

Actually saving at least 10% of your regular income for about 40 years of you working will be good to start up a good investment that will last for a long period of time once you have a plan of what type of investments you will like to do or involve yourself in will also be helpful in the long row too.

 

[btaliat]

@Meklo, you may not come up with an exact amount with such plan because it may surely depend on the total amount and the salary one is earning. Besides, one can only be conviniently saving if there are many sources of income as the economy nowadays don't really support saving.

 

[Skysaint]

Retirement age is actually a thing that we should take very seriously and plan for it early enough so that we won't be caught unprepared and in regrets.
This you said could be a very good strategy to save up for that period and probably use the money to invest in some other projects when you get retired. I have seen people who still take care of responsibilities even after their retirement.

 

[Xrin Nightfall]

The significance of saving money can be summed up in a single sentence: it enables you to live your life with a higher level of peace of mind. In the event that something unanticipated takes place, having money set aside for contingencies provides you with a safety net. And if you have some cash put away for your discretionary costs, you might be able to afford to take some chances or experiment with some new activities.

 

[codescript94]

I would invest in stocks in general, looking to diversify investment areas. Put your money into something that gives at least 1% a month profit on your invested capital that will already be on the right track. When I reached my 1.5 million, I would stop working and retire. This value for me makes a good living.

 

[Richee84]

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.

Most people always have that mind set that is only when you are working in government or private company that you can save for your retirement but it not always so. A business man or artisans can save money to buy retirement plan just like other government worker.

 

[Richee84]

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.

If most people can practice this your idea it will make life better for them in future. It is good to save for the raining days or for old age when the strength will no longer be there to do any work. The money you save them will serve as your sources of income.

 

[Richee84]

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.

It is both good to invest and to also save. Even if you decide to invest the money it is still advisable to make for your old days. There will be that time that you will no longer be strong enough to move up and down doing your business. Investment may fail but your savings will remain.

 

[Richee84]

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.

Majority of people will rather prefer investment than to save for their retirement. If anything happen to our investment then what happens to us? We are not comparing investment and savings but rather we are looking at the advantages of savings for retirement purpose.

 

[Richee84]

Savings toward retirement should be encourage by all means. Though we know it is difficult to save on our own and that is why for those that are working there retirement savings is been deducted from source. Savings toward retirement gives one a rest of mind in old age.

 

[Richee84]

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.

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That is very correct, saving towards retirement is the best decision to make that secure the future during old age. whatever you save will also attract interest which will help to increase the value of what you have save so far. The more you save towards your retirement plan the more will become meaningful to that person.

 

[Richee84]

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.

It is very good to start saving towards the old age from now. We don't have to wait for government work or company work before we start saving the little we have. The small we save today become something that is valuable later in the future. The best time to save is now

 

[Skysaint]

First off, this isn't supposed to be seen as an investment plan or strategy. This is actually a kind of retirement plan that's very different from making investments.
But like you've said, I think that's good actually depending in what you're receiving as salary actually but in general I think that's a good one.
You will be able to make something out if it when you finally retire.