Do you put a little on the side for your retirement?
By Downwindz
@Downwindz (2537)
Netherlands
August 12, 2020 12:46pm CST
Often we young people are busy living our lives and don't think to much ahead, I have even done the same some years, but it has now become time for me to slowly save up for my retirement, even though it may first be many years before I will retire.
Do you save up money for your retirement either through investments or in some sort of pension fund?
3 people like this
4 responses
@cherriefic (10400)
• Philippines
13 Aug 20
Yes, but I'm not sure it will be enough. Hopefully, I will make enough before it happens.
1 person likes this
@Downwindz (2537)
• Netherlands
14 Aug 20
I think that is a general feeling for most, I am personally also unsure if it will be enough, but only time will tell. Until then I put a percentage of my earnings into my "retirement fund" - and as I am self-employed I need to maintain the "retirement fund" myself.
@Downwindz (2537)
• Netherlands
14 Aug 20
@cherriefic I know, that is the challenge. I've invested my retirement fund in hope the profits exceed the inflation rate.
@cherriefic (10400)
• Philippines
14 Aug 20
@Downwindz True. At least have something and just hope that the inflation will not be too much by that time.
1 person likes this
@xFiacre (12626)
• Ireland
12 Aug 20
@downwindz I have a pension plan with work but am also able to put aside something into savings. The date when I’ll need it is getting closer -January 2024
1 person likes this
@Downwindz (2537)
• Netherlands
12 Aug 20
January 2024 is indeed very close... I'm honestly unsure when I will need my pension. I would imagine it would be another 30-35 years.
@Downwindz (2537)
• Netherlands
12 Aug 20
@xFiacre This is so very true. I've been considering adding the little MyLot earnings to that pool of savings as well. I am also investing my savings with the thoughts of compound - and I like the thought of my money earning more money.
@xFiacre (12626)
• Ireland
12 Aug 20
@Downwindz Do all you can to have savings put away. A lot can change in 30 years.
1 person likes this
@Downwindz (2537)
• Netherlands
12 Aug 20
Did you set those accounts up by yourself or did you get them through your employer?
@Downwindz (2537)
• Netherlands
13 Aug 20
It is always good/clever to have some amount of savings, I have other savings for different purposes as well.
1 person likes this
