When to start retirement planning? - A personal guideline.

I'm 37 now and think about retirement planning these days. I wouldn't claim that I came up with a concrete plan of action but I do have something in my mind. As I don't do a job that offers a huge return/benefit when I will retire so I have to think about this, there's no other way.

Lately, I was searching for some ideas about a retirement plan for people like me who don't have a secure pension, don't own a lot of property; mostly depend on current income.

Now the question is am I too early or too late to think about a retirement plan?

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Though there's no concrete plan. But from what I understand about money is that I should start a little earlier. Unfortunately, nobody talks about retirement during our 20s or early 30s. The plain and simple equation is, that the earlier we start a plan, the more our money will grow.

But the problem is, there's a high chance that what we are investing now is going to support our other costs like buying a house or car; even in medical/health. I have seen that so many times and it happened to me too. To be honest, I too invested some of my money in some properties as well. I mark them as a passive retirement plan though.

This is the reason people like me have to think about other options as a retirement plan at a very early age. If nobody told you about this before then take my words as wisdom. I can guarantee it will help you.

I believe in compound interest/benefit/return. That's one of the major reasons I invest in crypto. As crypto people will read this and many of them are very young in age so I would suggest you not crypto earning and investment as a day-to-day job only. But do this with passion like a long-term investment. Spare a portion of your earnings, as small as $10 every month, and invest a small portion if you can. One day this money will save you.

We are a generation that likes to enjoy life. So I think we should make a plan as early as possible to enjoy our old age. I'm planning to retire at the age of 60-65 if I can. And to afford that I invested and spearing a portion too I can have a good amount at that time.

To conclude this topic, I would say keep in mind two things -

• Keep a portion of your earnings to save.
• Invest as much as you can to get compounded benefits.

This two will hopefully help us a lot. Also, there are many schemes and plan available on the market. Take a look at them, think about other options, and expand your investment in different sectors like real estate, land, stock, crypto, etc. And save, save as much as you can. Even if you spend some of your savings on something emergency, that would also be a good use of money.

What do you think?

Thanks for visiting my blog.

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