Practical Ways To Prepare For Retirement

Don't wait until you have just one year more in service before you start preparing for your retirement. Infact, retirement is better prepared for from day one at work. If you are yet to prepare for retirement, do not wait till tomorrow. Start now! Do the following:

1. Develop Good Attitude To Work
Most employees, especially civil servant, workers of government parastatals etc. do have wrong attitude to work. Their attitudes are "I will work if you pay me first"; I am doing my employers a great favour by working in this organization and they must be grateful for this"; I will work if my employer is watching but nothing will be done if he is not around"; I will not sacrifice if i can avoid it".

These attitudes are wrong if you want a better tommorow. Many people think they can work carelessly in somebody's work and then change when they are on their own. This is not true.

2. Be Productive
Larry Bucket said, "The best retirement plan for anybody is the ability to earn a living after 64 or 70 year old. I would encourage you to begin to look for an alternative vocation after you retire. I recommend goung to a vocational school and studying a trade in your spare time.

3. Save Money Now
You will need money to start another vocation; do not devour your future. Save money.

4. Invest Money
Don't just save money, invest it, invest in government bonds, real estate, stock, etc. One retiree told me recently that he was worth $100,000 in shares and he started buying shares with just $100, saved several years ago. What an investment! What a bright future! Invest, so that you can have something to harvest in future.

5.Have a Sizeable Number of Children
It is advisable that you don't have many children. Too many children will give you so many problem.

6. Use the "Half System"
To aid your saving, use the "half system". Imagine you are earning half of your present salary, what will happen? How will you live your life? Then try to spend half and save the other half. The truth is, the more the money you have the more wasteful you become.

7. Have a Good Relationship
Your success or otherwise depends on relationship. Build a giud relationship today; you may need it tomorrow. What a million dollars cannot do, a single relationship could settle it.

8. Expert Advice
Before you invest your money on anything, make sure you contact experts. Let them lead you even if it means paying them. Get in touch with them; let them direct you. Wisdom is profitable in getting sense of direction.