Retirement Planning : For the Young at Heart
Retirement Planning ( Q&A)
My expenses are too high now. I do not have enough money for saving for retirement. How do I save for retirement ?
One of the greatest advantage of retirement planning is it forces us to plan our finances .When it comes to budgeting or financial planning there are two extremes . I had one friend who will keep track of every dollar spent . Will meticulously file all bills , take regular printouts of all credit card statements and file them , analyze them , plan his expenses etc.
Then I also have a friend who has no clue where his money goes . He had 15 EMI running for home to his last three vacations , car , AC etc . If some fine dining restaurant starts offering EMI for a dinner he for sure will grab that. He will run out of his salary by the 28th of the month . Somehow manage to into the next salary to pay next months EMI.
Most of us are somewhere in between these two extremes. However these examples shows the need for having a plan . Thus whatever be the income we have to start the process of disciplined saving for the future .