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How will you fund your Retirement?

by Ross Petal
20 replies
As we all know we can't rely on Pensions to fund our retirement. Which of the above from the poll is likely to fund your retirement?

IM is a funny animal and most of us never plan our retirements but I think a bit of careful planning and taking action will get us there.
#fund #life after im #pension #retirement
  • Profile picture of the author vgnair
    A good network marketing using the power of POD will be the best solution for a passive income according to my experience and understanding. People rely on that for an early retirement and I know many who achieved financial freedom and retired when they are as young as just 28! This is practically possible with such good company only; not all.
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  • Profile picture of the author trustedmarketer
    Well done Ross! I was thinking about this recently. Just voted!
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    • Profile picture of the author CH Yeo
      Besides fund, I reckon that to stay healthy is important, so that one can do something gainfully during retirement age.
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  • Profile picture of the author YourOnlyWriter
    Banned
    In my 20s, I've started to build my retirement fund through paper assets (mutual funds, equity funds and in the stock market). To me, investing (not trading) in the stock market is the best type of investment (although risky).

    I didn't vote because it's not included in the poll.
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    • Profile picture of the author Beavis
      A few apply, but I picked the most valued response.
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      • Profile picture of the author sree94
        This is something I've been thinking about a lot lately

        When I had a J.O.B. I used to have a certain amount withheld from my check every two weeks and didn't think much about it, but now that I am self-employed, I feel like I need to come up with some type of strategy

        Obviously, I hope to be making money off web properties for the rest of my life, but you never know what the future holds
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        • Profile picture of the author Ross Petal
          I understand you buddy.

          Originally Posted by sree94 View Post

          This is something I've been thinking about a lot lately

          When I had a J.O.B. I used to have a certain amount withheld from my check every two weeks and didn't think much about it, but now that I am self-employed, I feel like I need to come up with some type of strategy

          Obviously, I hope to be making money off web properties for the rest of my life, but you never know what the future holds
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  • Profile picture of the author KenJ
    Nice poll idea Ross.

    I voted but I am already doing it. My pensions are OK but I like more.

    KenJ
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    • Profile picture of the author Ross Petal
      Thanks Ken. It's always good to plan ahead and make sure that we're all doing well financially and health wise during retirement.

      Originally Posted by KenJ View Post

      Nice poll idea Ross.

      I voted but I am already doing it. My pensions are OK but I like more.

      KenJ
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  • Profile picture of the author pewpewpewmonkeys
    Roth Roth Roth Roth.

    I really wish I had understood sooner.
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  • Profile picture of the author jasondinner
    I only could vote on one but I am and will be doing at least 4 or 5
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    • Profile picture of the author Ross Petal
      Jason, your a wise man!

      Originally Posted by jasondinner View Post

      I only could vote on one but I am and will be doing at least 4 or 5
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  • Profile picture of the author Adie
    There is no retirement from IM..

    My remittance for my SSS is already qualified for retirement..
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  • Profile picture of the author mrgoe
    I`ll continue with my IM career, it`s not my job, it`s my hobby, and it`s bringing me money !
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  • Profile picture of the author MarketMaster13
    For my case only my eyes going off can stop me from going on with my IM career.
    so definitely my retirement isn't coming any soon since even when i will be at 70 will still work on my IM career.
    Just voted
    Thanks Ross
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  • Profile picture of the author kencalhn
    i have no concept of the word "retirement".

    I will work and add value to the world until the day I die.
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    • Profile picture of the author Steve B
      Ross,

      Great post and question. I am already retired from the corporate world but I choose to keep working on my own terms.

      I began saving for retirement as soon as I finished grad school and was hired in my first full time job.

      I also participate in a state retirement pension that I accumulated over my working career.

      If I had to do it over again, the best advice I can give would be to:
      1. Begin saving as early, as often, and as much as possible;
      2. Live within your means;
      3. Always pay yourself first - and if you can't do that you're not living within your means;
      4. Begin a business online even if you have a regular job - this is an asset that can pay off both now and in the future;
      5. Freely give to worthy causes - church, charities, helping others, etc
      Don't focus on money. While it does fund the necessities, it is not the most important thing in your life. Your character, family, friends, health, and other things should never be relegated on your priority list to a spot below acquiring money.

      The best to all of you,

      Steve
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      • Profile picture of the author Ross Petal
        Wow Steve! What wise words and well done for implementing those from an early age. Your the man!

        Originally Posted by Steve B View Post

        Ross,

        Great post and question. I am already retired from the corporate world but I choose to keep working on my own terms.

        I began saving for retirement as soon as I finished grad school and was hired in my first full time job.

        I also participate in a state retirement pension that I accumulated over my working career.

        If I had to do it over again, the best advice I can give would be to:
        1. Begin saving as early, as often, and as much as possible;
        2. Live within your means;
        3. Always pay yourself first - and if you can't do that you're not living within your means;
        4. Begin a business online even if you have a regular job - this is an asset that can pay off both now and in the future;
        5. Freely give to worthy causes - church, charities, helping others, etc
        Don't focus on money. While it does fund the necessities, it is not the most important thing in your life. Your character, family, friends, health, and other things should never be relegated on your priority list to a spot below acquiring money.

        The best to all of you,

        Steve
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  • Profile picture of the author derekwong28
    I am taking a mulit-prong approach to this. I do have a pension plan which I will be eligible to withdraw when I am aged 60. I also have an unoccupied apartment that I can rent out any time. I am also investing in high yielding stocks and hope to live on the dividends.
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