Good day. Any advice for the retirement? How to prepare yourself?

[Bambale]

According to the statistics from social agencies, around 45% of Americans are not prepared for their retirement regarding money, assets, and other directions. So, how to prepare yourself for the retirement? What things to think about?

[John]

Hi Bambale

I would definitely think about my current earnings.
The first key question is about your current as well as future savings. Financial experts, as well as those in their 60th advice young men and women, think about their future retirement as about the when there’s a need to relax and stop thinking about such essential directions, as work and money. It is time to estimate how much you think you will spend during your retirement and try to work on your saving plan. Of course, it is too hard to count the exact numbers, but it is easy to save a particular percentage of money regarding your today’s revenue.

[Yotamion]

John is totally right. The other thing is about your debts. Do you have any? When will you get rid of it?

Downsizing in your expenses seems to be one of the best strategies to ensure the efficient way of your money flow. You should think about your overall budget and figure out the following nuances. The first is how much do you earn now / during the retirement period? And also how much debt do you have before the retirement period?

Think about the tracking your revenues and expenses as well as start to make monthly or weekly assessments to make sure you know how much you spend and earn.

[Bambale]

Great, thanks! So good about lifestyle during the retirement. I haven’t thought about it. Have you?

[Yotamion]

Think about the insurance also. When you are in your 50th or 60th, it is time to save almost on everything. For instance, many European and American brands give a possibility to save money on the retail things. Basically, you can easily get discounts in Adidas as well as other sport stores, purchase products in IKEA or drink coffee in Starbucks.

All these brands will make everything possible for your comfort. Also there are numerous industry leaders, who will constantly provide you with different discounts on your home or mobile phones as well as do everything possible to make your monthly bills smaller. For example, such global telecommunication operators as Vodafone will provide you a 10% discount on your monthly expenses on the mobile services.

[Bambale]

Yotamion, wow! Good to know. Thank you everyone for a nice chat and thoughts.

[Author]

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