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  1. #1
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    Jun 2005
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    Tips for Retirement

    Okay you youngsters! Save for Retirement or you'll be sorry! That is the Best advice I can give you!

    One tip I wish I had discovered earlier in life was that every time I went to a Store I should have paused and said to myself: "Do I really need that item or do I just want it?" I tell you, folks, I would have had a lot more money than I do now!

    I bought loads of CD's that I haven't listened to in years, have loads of movies that I've watched once or twice. Every time I think of how much money went just into those two, I shudder. Of course, that is only my opinion and I don't mean to downplay anyone if they like to buy these. My point is that one's WHOLE point-of-view changes as one ages, and that is one regret that can be nipped in the bud earlier.

    I just thought that I would share this and maybe someone could learn from my mistakes and have more money in retirement.

    What have you been doing to think of your Retirement? Share your tips.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.


    True love is wanting to give to another person without any thought about
    who’s getting the better of the deal.

    Love always creates, it never destroys. In this lie's man's only promise

    ~All quotes by Leo Buscaglia


  2. #2
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    Re: Tips for Retirement

    I have an RRSP that automatically takes from my paycheck every 2 weeks. I'm not sure how much will be in there by the time I reach retirement age though, hopefully enough to live on?

    I'm also paying down my credit cards as quickly as possible and once done, will cut them all up and find the lowest interest credit card I can find.

    In one way I'm a bit lucky to be paying so much toward child support because when my daughter is old enough to live on her own it will be a rather large lump sum that I don't have to throw away every month. I'll likely take these monies and invest as much of it as possible while maxing out my RRSP contributions.
    My Daughter Rules!

    Band of Others: Are you a Gamer looking for a home, look no more bro!

    Ofear.com: Confronting fears, phobias, and panic attacks, in a friendly online community.

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  3. #3
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    Re: Tips for Retirement

    Not using a Credit Card is very wise; unless it's for Emergencies. It really is NOT free money like some people think...

    I haven't used a Credit Card for such a long time I believe that it may have cobwebs on it.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.


    True love is wanting to give to another person without any thought about
    who’s getting the better of the deal.

    Love always creates, it never destroys. In this lie's man's only promise

    ~All quotes by Leo Buscaglia


  4. #4
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    Re: Tips for Retirement

    I used to have a healthy bank account until I started relying on my credit cards. I went from a few thousand in disposable income to several thousands in debt and no disposable income.

    People use credit to buy things, what they don't realize is it's heavy interest penalties that keep you from buying more things.
    My Daughter Rules!

    Band of Others: Are you a Gamer looking for a home, look no more bro!

    Ofear.com: Confronting fears, phobias, and panic attacks, in a friendly online community.

    Movie Talk: Like discussing movies, tv and streaming media, well so do we.

  5. #5
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    Re: Tips for Retirement

    Quote Originally Posted by Duke View Post

    People use credit to buy things, what they don't realize is it's heavy interest penalties that keep you from buying more things.
    .....especially when only the minimum payment is made or just what a person can afford in a month.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.


    True love is wanting to give to another person without any thought about
    who’s getting the better of the deal.

    Love always creates, it never destroys. In this lie's man's only promise

    ~All quotes by Leo Buscaglia


  6. #6
    Join Date
    Oct 2005
    Location
    At Home
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    12,071

    Re: Tips for Retirement

    I have a 401K account through my work and I pay off my one credit card every month. Probably still won't be enough. I will probably work till I die.
    The brain is a wonderful organ; it starts working the moment you get up in the morning, and does not stop until you get to the office. (Robert Frost)

  7. #7
    Join Date
    Sep 2010
    Posts
    2

    Re: Tips for Retirement

    Credited to Bionomicfuel..
    *Early retirement planning is crucial to being able to retire when you want

    *A retirement planning guide should cover risk assessments and portfolio diversity

    *Retirement planning advice should always touch on maximizing the opportunity for employer matching funds.



    So here are some retirement tips:

    1. Plan Ahead. Retirement is not going to just happen, at least not the way you dream of, so it is important to plan ahead and map out the road to a successful retirement that is similar to what you have always dreamed of.

    2. Take Advantage of Employer Matching Funds. Good retirement planning advice always includes taking full advantage of employer matching funds for any retirement savings accounts.

    3. Diversity is a Key. A quality retirement planning guide should explain about retirement investment portfolio diversity.

    4. Take Advantage of All Tax Benefits. Using good retirement advice means taking advantage of all the possible tax benefits as well.

    5. Start As Early As Possible. Starting your retirement planning and investing as soon as possible will allow you to be flexible and have several different options when you get close to retirement age.

    6. Be Realistic about Your Retirement Needs.

    7. Use Low Risk Long Term Investment Strategies.



  8. #8
    Join Date
    Sep 2010
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    2

    Re: Tips for Retirement

    The main advantage of <-- Link Removed --> is that they allow you to go long duration without inflation risk.

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    Last edited by TKDLady; 09-14-2010 at 08:39 PM.

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