Reward Your Future Self The basics of putting your money to work.
by Gzpot
What’s your ideal retirement age? 50? 60? 65?
Wondering the first time or never even thought about it? That's okay, it means we're about the same age.
Retirement might be decades away and it's too soon to care but given the thought of it, would you be financially stable by then?
Supposing your desired retirement age is coming in fast as your next birthday, wouldn't it be nice if you could afford yourself the financial freedom you have always dreamed of?
The kind of life that has been causing you to get more sleep at night, financial stability, death of debts, enhanced purchase capability and capacity to splurge without even scratching the surface of your stockpile.
With these in mind, I know you can't help but wonder how or is it even possible. Well, contrary to the popular belief, it is.
Doable, you ask? Effortlessly.
There are many known ways and existing methods or perhaps you could come up with something new, it is totally up to you. Your ideas really don’t have to be grand nor wait for the perfect time to execute.
The ultimate key here is to start now. And it only takes a few baby steps to start making your dreams real, here's how;
1. Free thy self
Free yourself from existing debts and avoid incurring more. Write them down like a bucket list that you'd want to clear out someday—ASAP. As soon as you could afford to pay it all off, then do so immediately. It's just a matter of discipline.
What's that? Easier said than done? Yes. It is. But for the love of beachfront houses and breakfasts at sunrise, this is for your damn retirement. So, quit complaining and get it done.
It would be difficult for you to proceed if you skip this step. If necessary, look for ways to earn extra income. The sooner you're free, the better future it will be.
2. Know thy self
Gauge your risk tolerance. It is imperative to know how much risk you can handle for long-term investing and/or the opposite as such would easily narrow the options that would work for you.
It also matters to recognize whether you are a conservative, moderate, or aggressive investor. Although you need not to worry about the differences in the amount of savings and investments since we all have different ways in building our fortune. And besides, the goal stays the same.
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