Start Saving Early

For most people going into the work force today there is very little possibility of being able to enjoy some sort of pension plans as these plans are becoming more “extinct”. Such pension plan facilities are no longer a requirement or a compulsory addition to an individual’s salary deductions.

Therefore without such allowances in place for retirement the individual would be wise to start a saving plan to accommodate the retirement phase of his or her life.Learning to lock in a certain amount as soon as possible towards a savings plan will allow the individual to plan accordingly, thus ensuring this said sum is systematically allotted.

Making this a habit that comes naturally will help to make the entire saving exercise both easy and accepted. It will also allow the individual to work round other financial commitments to ensure the savings contributions are not effected in any way.Besides this the individual will learn to be disciplined and thus create a comfortable spending habit from a very early on age.

The percentage of the savings should also be increased according to the job advancements made.This would ensure the savings amount becomes healthier which in turn would ensure a more comfortable retirement phase. Investing in suitable savings plans will also allow the individual to make tax relief claims which should work as an incentive to save even more or provide the funds to invest even more towards a suitable retirement plan.

Savings Is Never Enough: Invest Now

If an individual is only going to depend on a savings plan for retirement, the eventual amounts saved may not be nearly enough to support a comfortable retirement phase as the inflations and value of the money will definitely be lesser as time goes on.Therefore there is a serious need to look towards investing in other tools that may provide comfortable returns that would add on to the savings plan in place.

The following are some recommendations on other possible areas that should be explored with the intention of creating investment plans for retirement:


Investment planning – this area can provide the individual with platforms where the money works on fetching a better than average interest earnings by planning the investments at the right time and choice. These usually provide with good return on the values over time.

Real estate investment – real estate investments is all about committing funds to entities, such as various forms of properties that will eventually yield suitable income earning revenue for the individual. There may come in the form of rentals, leases and proper deals, where the properties bought can be sold for very good profits. These are all ways to create suitable savings possibilities.

Bonds and securities investment plans – these can bring about effective investment growth that will eventually contribute toward the funds that can secure a comfortable retirement phase for the individual. The long term investments may come in the form of bonds such as life assurance and death policies. Besides this there are also possibilities investing in government bonds and other entities.

Endowment policies – these are also another very good option to take up in the quest to create a comfortable savings platform to retirement. Paying towards such plans early on, will create an ideal source on income eventually.

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Dean Harizavi is the president and founder of Arta Financial, a licensed mortgage broker and real estate investment portfolio advisor and a regular contributor of real estate finance articles, blogs, podcasts and radio shows. Dean has over 18 years of experience in the industry with multiple graduate degrees in Engineering, Management and Finance.

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