You Are Going to Retire Poor - I Will Tell You Why

You Are Going to Retire Poor - I Will Tell You Why
By Shalini G



Do you know what is miserable? Spending your last days of your life without money. Retired people all over the world are suffering because of the raising cost of living. The pension that they receive is not even enough to cover half of their monthly expenses. You work all your life with a hope that you would spend your retirement life in a paradise. That kind of dreams are under threat because of the slow economy and falling interest rates. You no longer get a good interest earnings based on your savings. The times are changing, no company or government provides you a financial security as they used to do it. Now, it your responsibility to take care of your money and save sufficient enough for your retired life. This is why I said you are going to retire poor.

How much money do you need for retiring?

If you have a sum of $500,000 money in a bank, with a 5% per year interest, you will get an income of $25,000 per year which is exactly $2083 a month or $520 a week. This income is good only today, by 10 or 20 years into the future, the cost of living would have risen by at least and you would probably need at least twice as much money to lead a comfortable life.


Putting aside $500,000 money is a difficult task particularly when we don't have much disposable incomes. Your home mortgage and car loans take up much of your earnings. Out of these two, only a home is an asset. A house also needs a maintenance. The maintenance costs grow each year as your home becomes older.

Is there a solution?

Yes, there is. The simple solution is to earn more and spend less. With many of us are locked in to a daily job which takes most of our weekdays, you can not work on a part-time job. Simply, we don't have the energy and time to work on another job during the short weekends after all, we need some rest too. The best way to earn money is by doing some projects on the Internet. Because, it will be difficult to earn money on the web, but when the money starts flowing, it grows gradually without needing your efforts. There are many ways to earn money on Internet. There are some genuine methods and bogus methods. There are plenty of Internet scams floating online that promise you to make you rich overnight. This is why we have compiled a list of legitimate online jobs and ideas with which you can make money on the web.



So estimate your retirement needs, and earn more money NOW.