Why Many Old People Don’t Have Insurance or Retirement Savings

Posted by Grace under Insurance on August 21, 2015

Here are the reasons I research why many old people don’t have insurance or retirement savings, don’t have enough pensions and retirement income. Awhile ago I asked some old people in our local town. I found out their answers are “invalid reasons”. Some of them are not familiar with investing. The reasons why I want to include this topic in this blog is because I want you and the readers to prepare for their retirement.

They Are Earning Minimum Wage

Many of them answered me this “how can I save money I only earn small amount of money. Enough money to feed my family. Enough money to send my kids in school”.

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If you are think earning a minimum wage is a hindrance in saving money, I think you’re wrong. You should manage your finances, put 10% from your salary for your retirement savings and the 90% will be for your family. Isn’t it a good idea? Of course, it is.

Lots of Financial Responsibility

The “pay yourself first” rule is the key to save for retirement. Before you will go to grocery, before you will pay your household bills, before you pay your kids tuition fees, before you treat your family for dinner or lunch, pay yourself first. Set aside money fro your retirement. Again 10% of your salary is a good drive. It can make a big difference to save for your financial future.

Many people reason out this “they have many financial responsibility” as if they are the real existing “superman”. The lesson here is, if you are still young, no family, no other mouth to feed, start saving and investing for your future.

Why Many Old People Don’t Have Insurance or Retirement Savings

Ow, some of them believe in social security. They believe government will take care of them. Do you want to let the government take care of you or you will take care of yourself by “making yourself rich”.

Other people I interviewed said, “I have kids, he will take care of me now I am old because I took care of him when he was young, send him to school, feed him, gave him what he need”.

Now, you read InvestmentTotal.com over and over. If you believe on what we teach – saving and investing. Start now! Because, the best way to prepare for your financial future is today. Share this page with your friends.

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