Money Making Opportunities and Retirement Plan

I have to say from the day that I started this money making opportunities blog, I never intended to retired from blogging. That means I’m not planning to retired from doing what I like. As long as I’m still able to think, use the computer, read and living healthy, I will continue to keep this blog alive. Speaking of retirement, most of us dream of retired young. It’s not about the issue of don’t need to work, but it’s about having not to worry about money issue. Check out the post “10 Retirement Myths” form Yahoo Finance. These are some of the points that many of us should really think about.

  1. You don’t make enough money to save for retirement. I think most of us agree with this statement when we first started to work. It doesn’t matter how much you save, but it’s the question of making the habit to save for retirement. You may start saving at a very small amount of money at the beginning but increases the amount as you starts earning more money.
  2. You need a large income to become wealthy. Honestly, if you spend more than you earn, you’ll never become wealthy. The key is not about having a large income. You just have to spend less than you earn to become wealthy.
  3. You will earn 11 percent in the stock market every year. Nothing is guarantee or absolute nowadays. You might even get fire from permanent job if your company is not earning money. Diversified your investment is the key. Again don’t put all the eggs in one basket.
  4. Your money is safer out of the market. The higher the risk of the investment, the higher the money returns. So if you plan to invest in a safer environment, don’t expect to get much money in return.
  5. You can do better by investing on your own. You don’t know everything. That includes professional who manage money, finance and stock market. Plus you don’t have the time to fully monitor your investment.
  6. You need to be debt free before you can invest for retirement. Nobody is actually debt free nowadays. Besides you don’t have to be debt free to invest for retirement. Things can be done simultaneously.
  7. A 401(k) is the best place to invest for retirement. There is no such thing as best retirement plans. The best is to cover as many retirement plans as you can. Again, don’t put all the eggs into one basket.
  8. Social Security benefits will be enough to retire on. Why satisfied with just Social Security benefits when you’re able to work on other retirement plans. Surely it will be better to have more money to retired with.
  9. You have to retire at age __. In my opinion, as long as you’ve created multiple consistence source of income without having to work on them, you’re ready to retired.
  10. You won’t ever be able to afford to retired. Well, you just have to figure out how much money it cost for you to retired. Once you’ve solve this question, you’re ready to retired.

It is good to go through the list of retirement myths as it triggers us to think about retirement. We have to consider that one day we might not be able to work for money due to age. Thus we have to make sure that we have enough money to help us get through the rest of our life. Some of us may rely on our government or our children to take on the responsibility of taking care of us, but still it will be best if we have our own retirement plans.

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4 Responses to “Money Making Opportunities and Retirement Plan”

  1. Carl says:

    I have worked all my life as SEO and internet marker. I don’t have any retirement plan, hopefully my online business will go better and I will not worry when I become older.

  2. John says:

    I am going to retire this March and I am planning to join the business of my son. I will invest a lot of money as I believe in his capabilities. This is my retirement plan.

  3. John Kohl says:

    Retirement is always a tricky subject. One can only hope for the best. Great blog post though. Lots of helpful information to think about when getting ready to retire.

  4. Annuity says:

    I suggest investing on stocks, mutual funds, shares and different other such long term investment plan. Get an advisor and provide information about your retirement so that you gain some insightful tips on how your status is and how to properly plan on investment.