The following is guest post from Bill at TradeRushReview
When I was in my early twenties, I never thought about planning for my retirement. I was so caught up with earning and enjoying whatever money I earned I never thought to put away a portion of my salary to prepare for my retirement, and even for savings.
Now that I am a professional and in my thirties, I feel I am so far behind in the retirement savings game and I really wish that I made a conscious effort to plan for my retirement while it was still early. Luckily, there are retirement plans that I was able to get into; and I now I am right back in the game of planning for my future.
What I Did
I felt the need to get a retirement plan simply because I want me and my family to be taken care of when I am no longer able to work or earn a living. I want to live comfortably when I grow old, and I know that the value of debt in retirement might be tougher to pay off than when I am still young and able.
Ezra Taft Benson once said, “Plan to build up your food supply just as you would a savings account. Save some for storage from each pay check. Bottle or can fruit and vegetables from your orchards and gardens. Learn to preserve food by drying, and possibly by freezing. Make storage a part of your budget.”
So, just like Ezra Taft Benson said, I made sure that savings and retirement becomes a part of my budget every month. I plan to invest about $10,000 of my money on my savings and retirement. I want to make sure that I have something for the rainy days and something for when I retire. I felt it was a great time to do this now that President Obama is urging the states to create legislation about additional retirement funds for workers. Having those kinds of laws passed could help make it easier for me to save up for my future. Since those laws are still a work in progress, I figured it wouldn’t hurt if I went ahead and try to save up on my own.
I searched for plans and policies, and consulted with brokers and investment managers so that I have a good idea on what kind of policy will suit me best. I also had a look into investments, and I now know more about what options are out there for me. A lot of the policies and investments confused me, to be honest. I never knew there were so many ways to make my money grow!
I wanted something that was easy to do and won’t require much effort or tracking from my end. I wanted to have something that is self-sustaining and easy to understand. What I found opened up my eyes to the possibilities and what I had been missing out when it comes to investments.
I am lucky to be earning so much because of my profession, but I also understand that life can throw you a curveball every so often so you have to be prepared. I found out more about life insurance policies, hedge funds, investing in life settlements, retirement plans and so much more. A lot of the investment managers that I talked to had given me great advice and options about how I should invest my $10,000. They taught me about investing, stock markets and wealth management as well.
I’m currently leaning towards getting a retirement policy or an insurance policy. I also have been investing in the stock market. My broker has been very helpful and has clearly outlined for me the ways I can grow my investment. He taught me the things I needed to know, and how I can track my money.
Over to You
According to Johann Wolfgang von Goethe, “A lot of people don’t take care of their money ‘til they nearly come to the end, and others just do the same w/ their time.”
I didn’t want to be that person that Johann Wolfgang von Goethe was referring to. I want to act now and not wait until the end before I realize how important it is to plan for my retirement. So I did what I did to find things that could make my money grow.
It’s your turn now. I want you to think about the people who are important to you. Now, think of what you are risking if you don’t have any plan for your future. I want you to realize that the actions that you take to start planning for your future will make sure that you and the people you love will be taken care of. It’s not too late to start making plans and investing on your future.
Someone once gave me advice that I feel still holds true up to now. The advice was that the best ways to invest your money during summer times of your life is to forget you have money invested. Let that money grow and in a few years you’ll be surprised you earned more without trying too hard.
I did just that and I want you do the same. I want you to start investing and planning for your retirement. I want you and your loved ones to have a good future, a future that’s comfortable, secure and worry free. So give investments, and savings and retirement plans a try. Find a plan that best fits your budget, and secure your future and the future of your whole family.
Now Here’s What I Want You To Do Next (Your “Homework”)
Leave a comment to let me know about your planning for your retirement. I’ll be around today to answer questions and give guidance. So make sure to leave a comment right now.
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