Remember how carefree and
adventurous we are in the prime of our youth. Remember the exhilaration of
landing our first real job (summer jobs in school not counting) and the pride
in getting our first paycheck that we end up blowing, in just a day or two, on
buying stuff for ourselves, our friends and our family. Remember all the
subsequent paychecks that end up the same way and we are broke after just a few
days of payday, and live off our friends or family till the next payday
arrives. Living for the day sounds like a great motto and there’s no worrying
about the future. Soon we are in the middle of our careers, doing well for
ourselves and looking up in our lives, planning to settle down, own a nice
house, maybe get married and have a kid or two.
That’s when we realize how
expensive living can be. That’s the period in our lives where we are only
working to make mortgage payments, tuition fees and insurance premiums. Our own
dreams and personal goals are put on the back burner till “retirement”. And
then it hits us—we won’t have a salary to live on when we retire—and knocks the
wind out of our sails. How are we going to live after we retire, we ask
ourselves. How will we maintain our lifestyle? How will we travel? How will we
do all that we hoped to do and still make the day-to-day expenses and the
monthly bills? By planning for it, of course, says Adam Ginsberg, one of
America’s well-known coaches and mentors on internet entrepreneurship and
wealth building.
Here are Adam Ginsberg’s top tips
for building up a big fat retirement fund that will not stop you from doing
anything that you want in your golden years.
Top Tip #1
Start Early
That’s right: start saving for
your retirement as early as you can. While you may have to cut back on a few
parties and extravagant meals, you can put away a lot more when you are young
and single than when you settle down and comforts become a priority. Also, when
you start saving in your youth, you can put more money in high-risk portfolios
that could get you high returns by the time you reach retirement.
Top Tip #2
Diversify your portfolio
There are many investment options
available for you to plan not only your retirement fund, but also all your
needs up to retirement. There are saving accounts for emergencies, IRA and Roth
IRA accounts to balance your tax savings and retirement savings, 401 (K)
accounts, mutual funds for balanced growth of funds, real estate investments to
keep up with inflation and so much more. It all starts with what your goals are
and the research you put in.
Top Tip #3
Involve your Family
To meet any goals that you may
set yourself, it will be equally important to get your spouse’s support in
meeting those goals. It’ll be even better if you and your spouse share the same
retirement goals, because then you’d both know the sacrifices and hard work it
would take to meet those goals. If you have kids, it would be a great idea to
involve them in the discussions as well. This will not only teach them the
value of money early in their lives, but also the good habits of saving for the
future. And, you never know, they just
might surprise you by springing for their college education (or a part of it)
themselves when the time comes.
For more tips and tricks on how
to build your retirement fund, or if you have any tips of your own that you’d
like to share with us, we’d love to hear from you.
Adam Ginsberg is helping people to become financially
independent with his resources like eBay templates, eBay software and eBay
tools. If you want to know more about his resources you can visit Secrets of an
Auction Millionaire, Success with Adam or even Adam’s main website. You can also see some testimonials
of his satisfied customers.
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