I don’t want to sound as if I just discovered cold water, but I must remind my dear readers that fear is the greatest motivator of all. Politicians, salespeople, financial advisors, clergy, and even parents all use this tactic. Too many people in trying to persuade others talk in terms of catastrophe rather than real more likely scenarios. Take Social Security as an example. There are those who argue that it cannot be sustained and therefore will not be there in the future. The more moderate explain viability will occur if changes are made now. Seems to me that not only are the 65 million present recipients mindful of the programs shortcomings but so are their children who would be impacted in no small degree by any drastic changes.
To move forward in life and prepare for the future here is what I suggest one has to do. Save! Save! Save! The ultimate goal is to save 20% of one’s income to have sufficient monies for a comfortable retirement. How to get there is the stumbling block and here once again is my solution. Regardless of what your income is – take a minimum of one hour’s wage and set it aside in a government insured savings account. This should be done weekly and never stop until you retire. As your income increases so should your savings on a weekly basis. Remember that one hour wage is a minimum and any additions can also be made. Savings should eventually get to ten percent of income and for those financially fortunate: twenty percent!
Ok, so now that you are saving correctly on an uninterrupted basis what’s next? No real surprise – join the Mathmatecum! Take advantage of the best and safest dollar for dollar return on savings that will provide you with passive income to be added to your overall savings. I then suggest that you have a plan to put your savings in the following five places: funding each with $1000.This sum should be added sequentially and then kept even after the initial $5000 is saved.
- I-Bonds
- CD’S
- Dividend Stocks
- REITS
- ETF
JAI BABA
TTFN
JU
