If you are thinking that your children, the government or God will take care of you when you are older, great disappointments await you. Find out how you can prepare a decent retirement.
Our grandparents hardly thought of preparing for their retirement because among other things, their life expectancy was less than we have today, however, for our generation things have changed a lot. Employment has become radically more expensive, even for the youngest and most prepared to obtain and keep one is difficult, being even more difficult to have one that provides their workers with social security benefits and retirement plans. Whether you have a stable job or are self-employed, it is important that you consider the following recommendations to start your preparation for retirement.
1. Reduce your debts
For many people, avoiding debt is practically impossible, so it is recommended that you be aware that they should not exceed the equivalent of your monthly salary in six months. This is essential for it to be considered a “healthy debt”, which means that if necessary, you could cover the total of it by paying for 6 months with 100% of your salary. Whether your debt is equivalent to 1 or 10 months of your income, you must work seriously to reduce it. In truth, do your best to make this happen.
For more help and advice on this, read the article: A fuller life. Discover how to eliminate your debts.
2. Set savings goals
If you are going to put into practice only one of the recommendations in this article, let it be this, as it is the key to a peaceful future for your old age. Currently there are many ways to start saving: you can do it through your banking services, at home or through personal contributions to your retirement savings through your job. No matter how it is, the important thing is to save. There is a very simple table that you can follow: if your age is between the twenties, try to save 20% of your income, if you are between the thirties 30% and so on. Maybe the percentage seems too high, if it is the case, set your own goal and then do not separate yourself from it. Remember: saving is the key.
Read the following article, it will surely be useful to you: 4 great tips to strengthen your marriage and be self-sufficient
3. Take care of your health
One of the biggest complications that an older adult faces is the deterioration of their health, as this in turn makes them incapable of work, makes them prey to greater expenses in health care, reduces their independence and makes them dependent and vulnerable . I am in my 40s and I try to carry out all the advice that I give to others. I have permanently eliminated sugar from my diet, go for a run regularly, and am struggling to maintain a healthy weight. I recommend doing the same, you will see that you will feel much better and have more confidence when you think about your future.
4. Work as a family and personally
If you are married or have children, talk with them about your concern for the future, review the things you can do together to improve the family economy, clean up finances and cultivate savings. Probably one of your children will tell you not to worry, that he or she will see for you when the time comes to do so. If this is the case, surely you have good children and their wish is sincere in their heart, but life is spinning and they must face their own challenges. My father used to say: “A father can support a hundred children, but a hundred children cannot support a father” I clarify, not because they are bad or do not love you, it is because children become husbands and parents, their priorities change and they Like you, they will be hell-bent on raising their own children just as you did.
Remember, your children may be able to help you in old age, but as a good mother help them to help you so that when the day comes, you are prepared too. Reading the following will give you some other tips in this regard: How to age with attitude and dignity.