What I am going to share with you in the next few minutes may help you achieve financial freedom if you plan to retire early. I was a financial consultant a decade ago and this is a very common phrase that I told my clients when I shared with them about retirement planning.
Did you know that human’s life expectancy is getting longer due to medical advancement?
Do you imagine yourself working beyond 70 years of age so that you can still provide for yourself and your loved ones? If you are still young and have the advantage of time, the best and easiest way is set up a regular savings plan. Set aside a sum of money every month from your income to save and invest in strong and stable funds that pays out dividends bi-annually or annually.
Let Time take care of the compounding effect of interest and the fund’s performance adjusted to inflation in the long term run.
You could use a part of your savings to set up an Annuity Plan, so that at the specified age of your intended retirement, you will start receiving a monthly payout of $100s-$1000s.
When you are setting up your annuity plans, it is important to consider the inflation cost and the value of your future money too. Setting up an Online Business in not an easy feat but with hard work and dedication, one can see results in less than one year.
As a student of Wealthy Affiliate University, I am learning from the excellent training, using the tools, building relationships with the community and at the same time host my Online Business website there. Because I have never seen another place anywhere else that pieces these 4 core elements together such elegantly that they work seamlessly with one another. I have wasted a lot of time and money looking for an authentic and legitimate ways to make money Online.
Leverage on my losses and head over to Wealthy Affiliate University to check out their FREE* Online Entrepreneur Certification (Level 1) program.
This course is provided free* of charge so that new Online Entrepreneur could have a taste on what is Online Business about and experience the training, tools and community within the academy. These are great articles posted by Wealthy Affiliate University members and you may be surprised by the wide variety of topics discussed there.
Most of the young clients I met as a Financial Consultant always tell me that it’s too early for them to plan for retirement. I really like the idea of earning from online work – now that’s something I can do no matter what! When signing up to the Wealthy Affiliate program you talk about, is there anything else I should get, or will they supply me with everything I need? Of course the FREE* starter membership provides the basic and fundamental of starting your online business. Last but not least, these are just hardwares of Online Business, you’ll need commitments too for your Online Business to succeed.
Wealthy Affiliate University is definitely the right place for all to start learning about making money online and grow personally and financially.
You are absolutely right that an Online Business could be a safety net for retirement once you have successfully created the streams of passive income from your Online Businesses. Because, in a sense, the internet is a whole new world to be marketing on, you can essentially be whoever you want and do whatever you want! The best thing about Online Business is exactly you can do whatever you want base on your passion! I personally have met some retired folks in my local area that are passionate to make money for their grandchildren. Having an online business would be much easier compared to the traditional approach where sometimes you get rejected by the society. I agree with you that direct-selling (MLM) is quite difficult and physically hectic for older people with all the chasing after people and doing product presentation.
MLM is famous for causing broken friendship, sometimes, even a bad relationship among families or relatives.
At Wealthy Affiliate University, you will be guided step by step on how to build a successful Online Business that generate passive income for life. I consider the internet marketing one of the most incredible option for people of every age.
I have started with wealthy affiliate as well and I am really happy to work for myself every day. Wealthy Affiliate’s Online Entrepreneur Certification Course (Level 1) is free*, thus allowing anyone to experience the gist of website building and how to run an Online Business. I am really glad that you have found Wealthy Affiliate and I am sure you can be successful! As someone who is quickly approaching retirement, I’ve been contemplating different ways to make an online income that will supplement my pension. Use the Free* Starter Membership to explore Wealthy Affiliate and chat up with the community, I am sure you’ll get more insight when you are in there. I am a Wealthy Affiliate University's Student since 2014, and successfully generated my Passive Online Income after learning from the Online Entrepreneur Certification Course. There are many Ordinary Folks at Wealthy Affiliate who are making money online after learning from the course. Looking for more financial or retirement ideas?  Use the tabs or the pull down menu at the top of this article to find links to hundreds of additional articles. Southern California is a fun and sunny place to retire, as shown in this mid-winter photo of Laguna Beach! You can go straight to my InfoBarrel Homepage from here, to read hundreds of my articles.You can go straight to my Hubpage Homepage from here, to read dozens of additional articles. COPYRIGHT: These articles are from the Baby-Boomer-Retirement blog and property of Deborah-Diane. Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.


Thanks to the fast-growing internet economy, jobs you can do from the comfort of your home — and sometimes on your own timetable — are becoming more plentiful.
Jean Chatzky, best-selling author, journalist and money editor at NBC's Today, is AARP's financial ambassador.
You can earn money as a consultant at home if you have a computer and an Internet connection. AARP is a nonprofit, nonpartisan organization that helps people 50 and older improve the quality of their lives. In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality, unbiased journalism. In order to serve content on our website, we rely on advertising revenue which helps us ensure that we continue to serve high quality, unbiased journalism. Rashmi AichKeeping it simple: Swapan Deb, 62, has invested most of his retirement corpus in Senior Citizensa€™ Savings Scheme and bank fixed deposits.
A lot of the personal finance advice you read is about getting your retirement funds in place, but there is little on how to deploy these once you hit retirement.
As majority of individuals in this age bracket stop earning, it becomes a priority to ensure a source of regular income and have investments that are more liquid to meet any untoward emergency. Swapan Deb, 62, is a retired senior executive from the Reserve Bank of India’s (RBI) office in Delhi and is now settled in Kolkata. A lot of seniors are apprehensive of taking risk with their retirement corpus and lose out on capital due to inflation. Experts that Mint spoke to are of the opinion that although regular income is a priority for retirees, they have to choose wisely and ensure that the portfolio has a mix of debt and equity, and that they keep the risk level low.
And when investing in mutual funds, one may focus more on funds investing in large-cap companies instead of small- or micro-cap companies, as these come with high risks even though they give higher returns.
Annuity schemes, where one invests a lump sum and gets a stream of income at regular intervals until death or the end of tenure, are also popular. Sardari Lal Doda, 70, a retired banker from Delhi who is now settled in Chandigarh, has been investing in PPF for the past 40 years.
Post-retirement investment decisions are directly linked to your financial goals and need to be regularly assessed to see if they are in line with each other. Siddhartha Pradhan, 63, is a retired medical officer with the central government health scheme and is currently working as a medical consultant with the RBI in Kolkata. A lot of stores, shops, brands and other places offer special senior discounts where people who have retired can avail cut off on prices and hence save a great deal of money. Another great idea and tip to save after retirement is to cut down on unnecessary costs and purchases.
After retirement, there are many things and luxuries which can be replaced.  If you are accustomed to certain luxuries and do not feel like giving up on them, you can easily find their alternatives.
It is a great idea to shop for clothes, home accessories and other things during the sale season or by making use of discount coupons and deals. Do your research properly and figure out the banks and insurances which pay the best interest rate on your savings. If you are serious about making money after retirement, I invite you to read this article seriously. This really got me thinking about my retirement and asking myself if I’ve done enough planning.
If you invest your time in Online Businesses, the returns are multiple passive income streams. Even in Singapore, our official retirement age is 62 years old now, but re-employable up to 65 years old. There are many Online Scam gurus who preys on honest people who want to learn how to make money Online. If you want to bring your Online Business to the next level and have a head start over your competitions.
I am a new member of Wealthy Affiliate University and I can verify that your comments about Wealthy Affiliate University are right on the money.
But now, I am convinced that Wealthy Affiliate University will help me to finally succeed and make my retirement more secure than I could have imagined just months ago. Think of the world wide web and earth as two separate places you’re living in, and the concept of building a business online makes more sense. If you are young and abled, you should start to think about your own retirement by building your portfolio of passive income for when you are no longer able to work.
Besides, the cost of having one career through the Internet is fairly affordable for anybody.
I am glad I became familiar with it in my 30s… And as you said, if you work hard you can see a good result in a matter of 1 year by building a solid foundation with your website.
I appreciate that people like you share this great community and give hope to so many people.
How exactly does this program work and is it reasonable to think that I can earn a substantial amount of money by using it? Excerpts and links may be used, provided that full and clear credit is given to Value Creation . Library assistants, customer service representatives, school bus drivers, crossing guards, and restaurant and cafeteria workers often work part-time hours. Seniors who held pre-retirement executive and managerial positions may be able to obtain consulting work.
In addition to traditional universities, you can also find online teaching jobs at education and technology companies. 03 48 AM ISTHow to make investments after retirementUnderstand a product before investing in it. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.
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You may be completely dependant on your retirement funds or you may have some current income from work, but how to use your retirement funds remains largely unanswered.
Even though he gets a pension, he wanted to have regular income and also some money to meet little expenses. Therefore, investments should be made be across assets which enhances wealth and also makes returns more predictable. The corpus at the end of the accumulation phase will be paid out in two parts—one-third as lump sum, with the remaining being converted into annuities. But considering that the returns are taxable, does not adjust for inflation and principal normally not easily accessible, there is a need for annuities to be only a small portion of the portfolio. The SWP is a withdrawal strategy wherein a fixed amount can be withdrawn from the portfolio every month; the remaining stays invested. Other expenses such as vacation, motor insurance and home equipment depreciation and replacements, also tend to come up so it’s important to keep money in hand. These are not tax efficient and also affect liquidity,” said Hemant Rustagi, chief executive officer, Wiseinvest Advisors. He has been tracking mutual funds and the stock market since his early 30s and continuously invests in mutual funds, direct equities and equity-linked savings schemes. Medical inflation is higher than food or other price-based inflations and they (senior citizens) tend to forget it completely. So for those who are about to retire or have retired, the road ahead may seem slightly rocky without the promotions, bonuses, raises and biweekly checks. For example if you are visiting a new destination, most museums and tourist places will offer special senior discounts which must be availed. For example, since you need not go to work now, you can cut down on buying expensive suits, ties, shoes and other things. For example, if you own a car and spend on royal car insurance, then you can get it converted into a slightly cheaper one to save a large amount of money every month.
There are many places and sites that offer coupons to all your favorite brands and stores.  Check out Frugaa to avail some of the most fantastic discount deals and opportunities. You can give up or cancel these memberships if you think you are just wasting money on them which can be used elsewhere in a more sensible way. Only after finding the best plan should you invest or save in that organisation so as to maximize your savings and money.
Here at Everybody Loves Your Money we believe that you should spend less money than you earn, invest as much as you can as early as you can, and avoid the materialism mindset. You could retire early and do the things you like or enjoy your golden years with leisure without worrying about bread and butter on the table.
Ask your employer about a part-time or flextime work schedule to match your work to your personal needs. If you're accepted (only about half of applicants are), you can decide what and how much work to take on. Don't limit your search to your own state; a lot of call centers are located in Utah and Georgia. As a result, their income becomes insufficient after a few years as cost of living inches up,” said Srikanth Bhagavat, managing director and principal advisor, Hexagon Capital Advisors Pvt Ltd, a Bengaluru- based investment advisory company.
Further, besides having allocation towards safe debt products which caters to cash flow requirements, one of the mistakes made is avoiding equity-oriented investments,” said Ashish Shanker, head, investment advisory at Motilal Oswal Private Wealth Management Ltd.
However, one should limit their exposure to 20-30% in equity, ideally through mutual funds to own an inflation beating portfolio,” he added. Cash flow needs can be covered through a combination of rent, dividend, interest income and systematic withdrawal plans (SWP),” said Vishal Dhawan, founder, Plan Ahead Wealth Advisors. The usage of the portfolio becomes more efficient and there is lower tax impact due to the SWP effect. He said at this age, it is important to invest in a manner that you have money available at all times and the investments don’t compromise on your capital and inflation.
He plans to put a chunk of the matured amount in bank tax-saving FDs and invest some in debt. So, it is important to follow the keep-it-simple rule while dealing with the retirees,” said Roy. Also, you will be able to cut down on the commuting to work costs now which will help you save a great deal of money.
For example, if you have given up on swimming, why waste the swimming club membership fee every month and so on.
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I have spaced out my investments in such a way that I receive my interest payment every month,” he said. The withdrawal must be planned in such a way that it increases every year with inflation and it does not deplete the corpus too quickly. However, do keep in mind that these schemes do not enjoy tax breaks, and the interest income is taxable at the marginal rate. The investment is exempt from tax under section 80C of the Income-tax Act, 1961, but the interest payment, paid quarterly, is taxable. When asked why he didn’t invest in other higher interest earning segments such as mutual funds, Deb said that his FDs are with the bank where his wife works and due to the ease of transactions there, he prefers keeping the money there.
When investing, see if the returns are taxable and how easily you can access the money when needed. Also his health cover is provided by his organisation, so the earnings are sufficient for him.
He has 15 systematic investment plans of Rs.2,000 each and invests in direct equities as well.



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