I enjoy reading The Sunday Times Invest section every week. Yesterday, there was an article about retirement again. The headline shouts, "It's not too early to think about retiring." It is similar to my tagline and I can totally relate.
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| Screenshot from The Sunday Times - 20 July 2014 |
The author, Rachel Boon, and experts interviewed suggested that the best time to start building a nest egg is when the workers are in their 20s. The article also highlighted the issues, of people at different age brackets, which hindered their funds for retirement. In the 20s, people are usually saving for their wedding, house or even a car. The people, in their 30s, are providing for their family especially their kids. While the people, in thier 40s, have their expense increased in their kid's education and elderly parent's care.
There are always different reasons to delay your plans for retirement. I believe you just have to be discipline and start as early as possible when your expenses are lower. I started early by saving hard and learning how to invest the hard way. From retrospect, at least I have saved a sum to be invested now.
I have always save a portion of my salary first. The remaining will be the amount that I am allowed to spend. Just like what the article has mentioned, start planning (save more) and investing as early as early as possible.
So Save Hard. And Invest Smart.
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