In last month’s issue, we discussed how the Rich use Credit Cards Wisely, and the Poor abuse their Credit Cards. This month, we will be looking at Rich Money Habit #6: The Rich Plan their Retirement, The Poor merely HOPE they can Retire.
90% of the world’s population above the age of 65 years is Broke! Why is that so? Simple! They Failed to plan their retirement, thinking that they would have enough money to survive into old age. You may think it’s too early to plan for your retirement, but it is NEVER too early! In fact, the earlier you start, the better your chances of retiring comfortably.
The Rich understand this simple principle. That is why they start planning their retirement early in life. They do not leave their retirement to chance. They invest their money in investments like Retirement funds, mutual funds, and other types of investments to ensure their money grows. That is why the Rich can retire comfortably.
The Poor, on the other hand, HOPE they can retire. They do not think it is important to plan their retirement. In fact, most of them just live their lives, day in, day out, hoping and praying that they would have enough money to retire in the future. Most people do not have a plan to ensure that they can retire comfortably, and hence, they continue to spend their money buying liabilities that do not help their money grow. That is why 90% of the world’s population above the age of 65 years is BROKE!
So kids, if you want to be able to Retire RICH, PLAN your retirement NOW! It is NEVER too early to plan! You could start by saving a portion of your pocket Money in your “Retirement” Money Jar every day!
In next month’s issue, Rich Money Habit #7: The Rich Spend Less then they Make, the Poor Spend MORE than they Make.
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