When should you start saving for retirement?
Right this very minute! Really, the sooner the better! Once you start working and earning an income you need to start thinking about what you want to do for a retirement plan and what your financial goals are in general.
There are a number of reasons why getting on this as soon as possible is important. Any one of the ones list here should be cause enough to convince you to start making a plan, but knowing a good range can help you when making a plan for your future.
The sooner you put that money aside the more time it will have to earn you interest. When you save, it helps you to earn you interest year after year. So the hundred of dollars you invest when you’re twenty becomes a lot more over the forty years it takes you to reach retirement age.
The sooner you make saving the routine the easier it will be to make a habit of it. There is always going to be a reason not to put any aside. Whether its student loans, a mortgage, a car… the list goes on. The fact is that retirement is still going to be looming out there in the distance, and you need to save.
Effects of delaying saving for retirement
Most people just don’t thing they get all and that they need to have a secure fund to spend their grand years in peace. Don’t be one of the many people who will be scrambling to catch up in their fifties, and working well into their seventies, because you didn’t plan ahead. Do you want to travel or have expensive golf memberships in retirement? Those cost money.
No one else is going to take care of you. The government subsidies and grants isn’t going to cut it. You have to save to make your dreams come true because you’re the only one who is going to do it for you. What do you want to do with this time in your life? Because chances are, it takes money.
We’re living longer! You don’t want to be ninety five years old, and broke. You’re going to need a good amount of money to get you from your sixties to a hundred, so start saving now.
Unable to start saving because you have many unpaid bills or outstanding loans? Have you ever consider taking one loan to clear all these problems? By consolidating everything, you will be able to manage your finances much better. You will then be able to see if you’ve paid or yet to pay for your bills. As everything is consolidated, you can be sure that you will avoid any late charges.
If you are interested in taking a consolidation loan, drop us a message! Or fill in an application form to see if you’re eligible to apply. Not to worry, the application form online is just to gather some information about you. This will enable us to know if you are eligible for it. We are a licensed money lender company in Singapore. We have been in this line for more than 10 years so you can be sure of professionalism from us!