I Won't Wait Until Retirement to Earn This Amount
By ARIES1973
@ARIES1973 (11944)
Legaspi, Philippines
December 28, 2020 8:56am CST
This morning, we were informed that the terminal leave pay of one of our colleagues who already retired from service is now ready for pick up at the regional office. They sent us a photo of the check worth 2+ million pesos ($40,000.00+). So, I am thinking that when I retire from service I will be receiving same or probably a bigger amount from terminal leave pay. Of course, there is still the GSIS premium. So, I’ll be a millionaire when I retire.
But then, I need to wait for 18 years before I retire. So, I am thinking of how I could earn this money without waiting for retirement? There are many options actually, and this 2021, I will be starting some investment as well as business activities that will help me realize this goal.
Would it be possible to become a millionaire before retirement? If your answer is yes, please share your strategies.
6 people like this
5 responses
@ARIES1973 (11944)
• Legaspi, Philippines
29 Dec 20
I'm trying to save a little amount on a regular basis so I can use for investment. I am somehow lucky that my children are no longer asking for allowance so I have some spare amount. Though I still have loans to pay. That were the debts I incurred when they were still studying and loans would usually last for 2 to 5 years. It's been a year and I already paid some of these loans but the bigger ones are yet to be paid. I want to be more active online as it can also add to my income. I don't want to work in the office until 65 that is why I am trying my best to go into and learn investment. I want to spend my time doing the things I want and spending it with my family.
3 people like this
@ZedSmart (19839)
• Philippines
29 Dec 20
@ARIES1973 I'm sure you can do good on that as accountant/auditor yourself?
3 people like this
@ARIES1973 (11944)
• Legaspi, Philippines
29 Dec 20
@ZedSmart I am not an accountant but I studied banking and finance.
2 people like this
@ARIES1973 (11944)
• Legaspi, Philippines
30 Dec 20
Yes, I'm currently checking our banks' offers. I already have an investment in mind that I want to start this 2021 but still looking for other options.
2 people like this
@ARIES1973 (11944)
• Legaspi, Philippines
31 Dec 20
@DianneN Thank you. I am hopeful. Happy new year!
2 people like this
@RebeccasFarm (91297)
• United States
31 Dec 20
You are brilliant to do so and well able to figure it all out. I know you will and good luck and blessing to you AIRES. Me? I am already retired and will not ever see a million pennies nevermind a million dollars
2 people like this
@ARIES1973 (11944)
• Legaspi, Philippines
31 Dec 20
I'm trying my best. I know it won't be easy but possible. I want to travel in different places and if I earn on my own, then I won't have issues. Unlike now, even before pandemic, I just can't go to the places that I want to visit because of two reasons, not enough time and not enough money. I'll try to change these two things into having more time and having more money. Happy new year!
1 person likes this
@ARIES1973 (11944)
• Legaspi, Philippines
29 Dec 20
That's right. That is why it needs a careful planning and study. I would like to start on a small scale. I am a more of a conservative type and I need to consider the funds that I have as f the moment.
1 person likes this
@ARIES1973 (11944)
• Legaspi, Philippines
29 Mar 21
Thank you. I am engaging in a small business and cryptocurrency trading. I know the latter is very risky but there is no point in playing safe. I need to take the risk if I want to achieve success.
1 person likes this
@porwest (112876)
• United States
31 Mar 21
@ARIES1973 So long as you are mitigating risk with research and knowledge, of course. Going in blindly hoping for the best is probably not the best course of action. I like the term "calculated risk," which of course is risk reduced through experience and know how.
1 person likes this
