We work hard to make our future brighter, but in this age of inflation we cannot fulfill all our dreams. One thing we often miss and that is savings. We think a lot about our future but we can’t save. We can save for the future and prepare capital that will help us improve our life after retirement. For this we should do good economic planning. The best time to plan your retirement is when you are young. Regardless of your retirement age, you should ideally start your plan from the time you first receive your paycheck.
Why is retirement planning necessary ?
While working, we are busy buying houses, cars and raising capital for our children's education or marriage and have no time to plan for ourselves. So you have to understand that depositing retirement capital is just as important as other goals. If it is delayed it will not be possible to raise enough capital and may have to go through an economic crisis after retirement. Start your investment as soon as possible for this goal.
Manage an emergency fund
You should keep in mind that you should have extra funds for emergency expenses. If the emergency is health, you have to pay more attention. In the future, if for some reason your health deteriorates, it is very important for you to have funds.
Spend only 80 % of celery
According to financial planners, anyone should spend 80% of their salary and save 20%. By withdrawing the money you have deposited within the limit, you can save your expenses from deteriorating. After retirement, you should also have money to cover expenses other than health.
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