When its too late to save for retirement - investing
You are 55 years old (or everyplace around there) and your business is going to force you to retire at 65. You have $35,000 saved in your 401K and that's all. The house will be paid for by then so you will have a place to live. The company annuity will pay about $1,000/month and so will Common Security. What will my life style be like at that time?
Let me give you a clue. You are going to need just about as much as you are building now even with the house paid for. If you are lucky you might have fitness cover with your pension, but don't count on it. You hope Uncle Sam will help out. But don't count on it.
When that savings you have runs out maybe one of your kids will let you and the misses have the spare room. Scary, huh! Maybe one kid lives in Minnesota where you can spend the summer and the other in Florida where the winters will be nice. But don't count on it.
You might get lucky and buy one of those stocks that rocket from $2. 00 to $200. Those chances are 1 in 100 and you don't have an adequate amount money to be captivating chances. But don't count on it.
Whatever time you have left among now and retirement you be supposed to start supervision your assets to have them grow and compound develop than in the past. If you go on to do what you have done you are going to have the same results. It is a array concerning cat food and filet mignon.
A develop file boss is not the answer. Saving more will help, but you need to live today. Having your house paid for is a huge plus. A back up job with all that earnings going to savings makes sense - if you can do it.
One of the change for the better solutions is opening a business you can run from home. The Internet has many offers. My caveat here is never send anyone upfront money. It takes the Avon lady 3 to 5 years already she makes any money. There are many legitimate small businesses like this that can provide a back up income, but you must invest both time and energy and be persistent. You must work it every day.
Don't decide on any affair that requires a substantial assets investment. If you have a friend or family member that has a home-based business you will want to spend time with him. Even if you don't use that vehicle you can learn plenty from that person.
You local documents has hundreds of books devoted to selection folks start a business. The Internet is a great source. Take time to consider and don't take anyone's word for their pie-in-the-sky story. Constantly get references and carefully check them. You want to talk to someone who in recent times in progress in that business about 6 months ago, a different about a year before and a third about 2 years prior. Maybe several of each. Once you make the binder you must hit the bring down administration and don't stop. Both it will work in a few months or it won't. Hard work is the only way you will find out.
It is not too late provided you start NOW.
Al Thomas' best advertising book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first division and receive his bazaar dispatch at http://www. mutualfundmagic. com and determine why he's the man that Wall Street does not want you to know. Copyright 2005
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