How are you planning towards retirement, wait for your pension money, or start up a business with your savings??

[Sincerem]

I have seen lots of people who made some mistakes in their working career. They never realised that savings is important during their working time. Forgetting that nothing last forever, even their work will come to an end. They squandered money carelessly, not saving any at all. After their service years, they are waiting for their pension dues that never come by for more than fours now and up till date. Had it been that they saved up money in the future. Maybe their condition wouldn't have been bad. At least they could have started their own business and drive money home and make a living through it. Do you prefer to wait for your pension dues after your service years or prefer saving up for life after retirement??

 

[Sincerem]

Having a savings and opening your own business is better than just sitting while waiting for your pension that you never know if it's going to be enough for you and your family's needs.

You spoke wisely, I posted this up, because many people in my country falls victim of this kind of scenario. They will be earning salary and be spending it the way it pleases them. Forgetting that, they need to save some for future emergency purposes. Waiting for when the government will start paying them pension to carter for their retirement life. But not knowing that things turn around, now they suffering because government have refused some pension dues for more than 4 years now.

 

[Sake]

You spoke wisely, I posted this up, because many people in my country falls victim of this kind of scenario. They will be earning salary and be spending it the way it pleases them. Forgetting that, they need to save some for future emergency purposes. Waiting for when the government will start paying them pension to carter for their retirement life. But not knowing that things turn around, now they suffering because government have refused some pension dues for more than 4 years now.

Exactly why everyone needs to have a savings, even if we're not retired or retiring yet. In emergency situations you might need it then you'll have something up your sleeves. It's better to have a business so you won't rely on government and other people to take care of you.

 

[Sincerem]

Exactly why everyone needs to have a savings, even if we're not retired or retiring yet. In emergency situations you might need it then you'll have something up your sleeves. It's better to have a business so you won't rely on government and other people to take care of you.

Yes, I need to save up mor money now. Than just relying to government for my pension. Because I might not survive it, if I save nothing, it will take time for government to pay such pension dues. The ones I know, the ones who rely on pension are suffering it now. The government of our country takes much time before they start paying pension.

 

[Sake]

Yes, I need to save up mor money now. Than just relying to government for my pension. Because I might not survive it, if I save nothing, it will take time for government to pay such pension dues. The ones I know, the ones who rely on pension are suffering it now. The government of our country takes much time before they start paying pension.

That's the right mindset here, it's for our own good, it's also not good to just wait for your pension money when you're old and will only be enjoying it for a simple meal and most of it to maintenance medicine better to start now while we're young

 

[Vladv26]

You got to understand that opening a business isn't always going to be profitable. Maybe someone invests their whole lives savings into a business and lose all of it. What are they going to do then, since they need to retire and have no money left? People just like the safety of having a pension because they know they have an assured income every month.

 

[Sincerem]

That's the right mindset here, it's for our own good, it's also not good to just wait for your pension money when you're old and will only be enjoying it for a simple meal and most of it to maintenance medicine better to start now while we're young

Lol, that's true, what will be my gain after retirement, I will just be eating simple meal, and taking some medication for my shrinked health conditions. The best time to save up is now, and enjoy too.

 

[Setho]

I haven't started working yet, just finished school of recent and if I would start I will go with my father on what he did, unless the organization has a cumpolsory pension plan, what is the essence of saving your money with them when you can well invest it in something that would bring more cash back.

 

[Afeefah]

Of course its to start up a business with my savings. I have seen far too many people suffer while waiting for their pension, which might take years sometimes. You don't have to wait for retirement before starting a business.
You can start a business while hiring trusted professionals to manage it for you.

 

[Seun4luv]

You can plan towards your retirement in different ways either by using your saving to start up a business or either by using your pension money to also start up a good business so it depends on which choice you want to use.

 

[chalcedony8]

Waiting for pension so not advisable, the money paid in some country is not even enough feed a person not to talk of feeding a family, so saving before retirement is the bet, the person will have something

 

[Aniwhyte]

If I'm up to retirement age someday in the future, I would never wait for my pension to come before starting a lucrative business with some of my savings, mostly when one live in a country where some hasn't received their pension for so many years. As the aftermath would be disastrous.

 

[Favour67]

I will rather start up a business with my savings and support the business with my pension money, this will ensure success in my business. If you have a reasonable amount you have saved you can start a business with it.

 

[Donkiz]

There are cases of people that retire after years of service without anything to show for it. Some where due to the lifestyle they choose to live while still in active service, while there are few that came back empty dye to circumstances beyond there control. Best option is to have a side hustle while still in active service to avoid had I known.

 

[chicnthin]

Waiting for retirement to start a business is not ideal for me. It is better to save up while working and start a business when the time comes and you're ready to enter the business world. If the business goes well, you can add the money from your pension as a capital and expand or create another business.

 

[Dylinks]

I have seen lots of people who made some mistakes in their working career. They never realised that savings is important during their working time. Forgetting that nothing last forever, even their work will come to an end. They squandered money carelessly, not saving any at all. After their service years, they are waiting for their pension dues that never come by for more than fours now and up till date. Had it been that they saved up money in the future. Maybe their condition wouldn't have been bad. At least they could have started their own business and drive money home and make a living through it. Do you prefer to wait for your pension dues after your service years or prefer saving up for life after retirement??

You raised very salient point but I am of the opinion that savings is possible when the income is greater than spending. Most especially when you are family man and your spouse isn't working, it now makes it tougher to engage in savings. Before retirement, you can engage in a petty business that is bringing small money and by the time your pension matures you can expand it.

 

[Nosheen Rakhshandha]

It's all depend upon our health a d energy level.which I will have on that retirement life .I f I will blessed with healthy a d peace full life than i can have courage to invest my savings in a bussiness because every bussiness has it's own risk level to be successful and it can be collapse.

 

[Sariana23]

For now I am saving separately, until completing my years of service as a public employee. When retirement arrives I will add to the liquidation and my savings as a complement, in this way to undertake. In my countries the payment of the pension begins to be collected the first month of retirees and the liquidation the same year in a time not exceeding 3 months, as long as the employee presents all the requisite documents

 

[Sincerem]

You raised very salient point but I am of the opinion that savings is possible when the income is greater than spending. Most especially when you are family man and your spouse isn't working, it now makes it tougher to engage in savings. Before retirement, you can engage in a petty business that is bringing small money and by the time your pension matures you can expand it.

That's true, we should engage our time while at service by saving some of our earnings made. Because no one knows what the future holds. One can't just depend solely on salary or future pension to make a living. Other sources of income is necessary, through the savings, he or she can build a good business initiative. Even when the pension stuck at some point, he or she can sustain with the family through other income stream.

 

[Alexandoy]

Before I retired I had counted my savings and I also estimated my pension if those money can make me live until I am 90. Check on that, no problem with my finances. However, I know that time will depreciate the value of money so there should be an investment to neutralize the cost of money in the future. We have a plan of buying a lot and building an apartment. At least that will be our security when we grow old.