14:54 21 January 2013
Most people these days are looking forward to summer vacations. After months of working, they feel that a few weeks or months away from work is exactly what they need.
If you’re one of them, I’m sure you have a rough estimate as to how much you’re going to need for your travel, accommodation, and other expenses. You would want to make sure that you have more than enough money to enjoy your holiday to the fullest.
It’s the same thing that you should do when planning for your retirement. As we’re most likely going to spend a quarter of our lives in this stage, it’s crucial that you have enough money to enjoy it.
It’s not enough that you can buy food or heat your home; it’s important that you have enough money for your medication and holidays.
When planning for your retirement, it’s important that you start as early as possible. Start a retirement fund by setting aside a percentage of your monthly wage.
Aside from State Pension, you should also have at least one of these to secure your golden years: stakeholder pension, private pension, or self-invested pension plans.
With these, your money will grow over the years to beat inflation and to ensure that you will not lose its buying power. Know your options and choose the one that will help you meet your goals much faster.
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