When you retire, you will no longer have an active income source, you will have to rely on your savings, investments, retirement funds, pension, or passive income. Sadly, a lot of people are unable to secure their retirement because they do not have a lot of savings or a lot of investments. Some people rely on saving and avoid investing as they think investing is risky. Saving money alone may not yield substantial returns, especially for retirement. You don’t want to invest but want to build security, buy an endowment life insurance plan. This type of insurance will give you financial benefits upon maturity.
Building Retirement Funds For Financial Freedom
- Thread starter Mika
- Start date
Building a retirement funds for retirement should start when you're actively working, you shouldn't wait till you have already retire before you start thinking about what you should do to take care of yourself, start from day one, depending on what you want, if you want to start a busie s that generates income for you and your family.
Or you can put up the whole money into insurance and start depositing every month so that at the end of a tenure you can get a lump sum or put it all on fixed deposit and live off of the Interest the money has garnered.
Or you can put up the whole money into insurance and start depositing every month so that at the end of a tenure you can get a lump sum or put it all on fixed deposit and live off of the Interest the money has garnered.