how do you prepare your life after retirement / myLot

Philippines

March 16, 2010 2:25pm CST

Hi myLotters! I was just wondering how you people prepare for your life after you finished working? things will start to change dramatically as you will not be able to generate income any more from your job, but instead will rely solely upon what you have saved your entire life (or maybe some residual incomes if you have other businesses). So how does one prepare this? Your comments will be greatly appreciated. :)

2 responses

khaezi

@khaezi (1001)

• Philippines

16 Mar 10

I think other than saving it is also good to invest..buy things that appreciate in value like land and jewelry..you may sell them in the future and earn cash =)

myfinalh3av3n24

@myfinalh3av3n24 (85)

• Philippines

16 Mar 10

yes, you're quite right. aside from residual income and savings, investing your money early is a great way to prepare for retirement. actually, i have invested on a condo unit and a piece of land. on the other hand, probably the worst thing you could do with your money is needless spending and investing in the wrong stuff (for example cars). although in honest opinion, i do love cars and would like to buy one. now i'm torn..

frontvisions101

@frontvisions101 (16043)

• Philippines

11 Apr 10

After retirement i'll put my time solely on business. I'll put up businesses that i can generate income from. That'll keep me busy, i guess. And of course my family.