Those who do have work and minimal debt need to be thinking about putting together a nest egg comfy enough to support them during their retirement years.
Yes, many statistics now predict that this generation of workers will have to remain employed in their 80s, but the future isn’t written yet.
So here is what people can do now to ensure they don’t wind up working that daily grind well into their golden years.
Build a Portfolio
Yes, the “creative bookkeeping” and dubious loan offers perpetrated by Wall Street insiders have been well documented over the years.
But that shouldn’t be any reason to keep the average young person planning for his or her future from dabbling in the market.
Professionals recommend building a portfolio that focuses on mutual funds, stocks, cryptocurrencies, and index funds over bonds.
If you are like me you can even join broker platforms for Future Currency Trading and make a good amount of money every week.
This can help you save well for your retirement and other important goals.
Sniff Out Free Money
It may sound like an oxymoron, but free money is out there – people just have to know precisely where to look.
For example, those with a bit of cash to put away may think that opening a retirement account that earns five percent interest annually is fair.
But if this same account could earn 20 percent, that would obviously be preferable.
What workers can do is check with their employers to see if the company offers an employer match on retirement accounts, which many organizations do.
If workers can score this deal, then they should concentrate on putting 15% of their gross income away into this account every year.
Matching contributions are powerful for two reasons. First, they’re like getting a raise without adding to your workload or responsibilities.
Second, they help you live below your means because the money is paid to your retirement account, not your bank account.