Prosperous retirement – only on your own

Posted: September 10th, 2013 | Author: | Money, Savings

The situation of social security pensions knows everyone and pensions will be pathetically low, if any of us will live to see it. While Social Security is one of the most insecure and inoperative systems, we are stuck with it and we have to pay it.

Eustaquio Santimano / photo on flickr

Eustaquio Santimano / photo on flickr

If you do not wish to receive starvation pension which will be barely enough to survive the last years of our lives, you have to take matters into your own hands and save on your own. This means additional expense for social security contributions. But it is enough to save 20 or 40 pounds per month for a few decades and harvest quite a large sum. This money is much better to locate in a financial or insurance product to slowly work the profit and expand the amount you will have for your old ages. What are some of the safest investments, bonds or savings accounts? You can also try using a variety of insurance products.

While counting only on Social Security, you will have to be prepared for the fact that your standard of living will be later much lower. With tens or hundreds of thousands of savings, you will be able to maintain the current level, as well as cover the new expenses that will be needed, for example all kinds of drugs, and treatments. Or maybe you want to fulfill your dreams, for which you did not have the time or money before? The accumulated fund can allow you this to happen, because the s percent of your current earnings for sure it is not enough.

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