Can I afford to retire?

(Edited)

A person's life and freedom are based on their state of health. An illness, disease, or injury is usually inconvenient and can even be fatal. One might need to stop working, hire help, cancel plans, or quarantine, or in the case of long-term disability, create entirely new support networks.

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What if I have to stop working? What if I can't earn my living the usual way (which is employment)... not for the time being anyway? What if I can't retire yet? Well, technically, I can since I started my contributions towards my retirement pension since I got off from my undergrad in college at 22 years old... and vested! And I have 403B, investments in stocks and bonds, real estate, savings, and a little of precious metals (and guns & ammu).

How true is the saying:
“Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.” —Mark Twain


Lacking money was my problem before I started stacking. It required sacrifice and discipline, but I'm so glad I did it!
If you want to retire in 5 or 10 years, you've got to do this... because the problem of not having money is fixable.

It could be difficult to know where to begin and what actions would have a real impact. The good news is that building wealth and stacking money is easier and more attainable than you may think.

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First, get used to living below your means! That means you need to spend less than you make. Why? It is important that you have leftover money to put away in savings and investments.

Second, S-A-V-E!!! And make it a habit. Set aside money for savings. You will need to save a lot! So do it on a regular basis, be it every week, every two weeks, every month, or every payday. You'll have to reduce your spending because you'll need to save a lot of money in a short amount of time. You might want to think about changing your way of life to get there. Paying yourself first allows you to save money, which you don't access unless an emergency arises. Prioritizing self over nonessential living costs may sound paradoxical, but it's a real strategy for learning how to save money.

Third, invest, and wisely. After you accumulate some cash, you should use it to make long-term investments that will increase your wealth. Investing in stocks, mutual funds, real estate, or other assets are examples of this.

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While saving is essential, investing wisely with your money increases your likelihood of success.



😍#ilikeitalot!😍

Gold and Silver Stacking is not for everyone.
Do your own research!

If you want to learn more, we are here at the Silver Gold Stackers Community. Come join us!

Thank you for stopping by to view this article.

I hope to see you again soon!

Hugs and Kisses 🥰🌺🤙!!!!





I post an article daily. I feature precious metals every other day, and on other days I post articles of general interest. Follow me on my journey to save in silver and gold.

@silversaver888

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Maybe if we lived in Mexico.

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Always, with love 🤗🌺❤️
!LADY
Ole!

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Or Zimbabwe!
!LOL
!LADY

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I think that even with smaller reserves people retire and find ways to survive somehow :) !VSC

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Yes, you do not have to have so much, but sufficient!
Thank you for visiting my blog @barski ! Much appreciated.
!PIZZA

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But, as they say, you can't spoil porridge with too much butter :) !BEER

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I love my 403B, it has been doing quite well. I didn't get started putting money into it as soon as I would have liked but it has grown fairly nicely. My thinking back then was that there is a good chance Social Security won't still be around when we need it, so we need to do something on our own. I wish I owned more property, but my wife and I both have 403B's, I have a roth IRA, we have a shared Roth IRA and then we both should get pensions from the state, plus my crypto stuff, so hopefully we should be good.

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!LOL
It tickles my bone to think that we both have, indeed, been blessed with careers in the education field. We are set for life, dear @bozz and @mrsbozz ! I count my blessings!!! I, too, have a Roth IRA. I am in CalPERS since I am in California.
!BBH
!PIZZA

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That's cool. Were you able to buy years? I bought five so I can retire with 25 but it fully vests me to 30 years. My wife did not, so I will likely just keep on working until she is finished. It pays the bills, but isn't going to buy us an island one day!

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I bought 5 years too!!! It's great because that was just a little added to the deduction per month.
No? Well, it depends on the island, !LOL... perhaps a quarter of an island.
!BBH

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Yeah, it was so cheap when I started. They don't really have that program anymore and no one told my wife to buy her years, so she just have to tough it out.

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It's too bad she missed out, but one of you is a plus than none at all. Just think, if you retire at 35 years + 5 years... 40 years... in CALPers you will get 100% of final compensation! Sitting pretty!!!

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Yeah, I think we are going to be okay no matter what. It gives me more time to actively grow my Roth and 403B too.

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This is so true. Luckily I made career and investment decisions early that made my early medical retirement a little less painful. Nice Libertads!

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Most young people (18-35 year olds or so) don't think much about retirement on the whole. That's not to say that there aren't those that do. It's just been my experience that most don't. If folks start late-it's okay but they really need to work hard (maybe harder) at getting to a point that if they needed to retire for a reason other than age, they could.

I know that I could now. I don't want to yet for several reasons, but one is that I want what I paid into social security and retiring early means that I get less and the government keeps it. Not fair and not right, but they keep raising the retirement age! So, I will persevere until then.

However, if one needs to step away from work due to health reasons, they might should. It might not be what they want, but we all need to take care of ourselves and if retiring is the way to do it, then so be it. It might not be easy; it might be hard, but we only get this one life here on earth.

Thanks for sharing sis! Love ya much!🤗😘😍❤️🌹 !LADY !LUV !PIMP

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Were it not for the fact that pension contributions were automatically removed from my paycheck, I wouldn't have known how important it was at 22 years old. I started investing when I was 24.

However, if one needs to step away from work due to health reasons, they might should..

I am temporarily stepping away... till the end of September.

Much !LUV to you, sis🤗😘😍
!LADY
!PIMP
!BBH

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It is good that you are taking this time to focus on what you need right now, which is healing and getting your strength back. That is the most important thing for you right now. Love you sis; praying for you; God's got this!🤗😘😍❤️🌹😊🙏😇 !LADY !LUV !LADY !LUV

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Living beneath your means is what most people fail at. New truck, new boat, million dollar home, big old line of credit, jet skis. All for short term. I plan to retire early and live simple.

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That is so easy to do... and before you know it, there is no time to save and invest!
CHEERS, @fat-elvis !
!BBH

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I guess I'm not saving well this time, it's all spending, I can't retire too soon,, I still prefer being employed because the income is monthly...good that you have a lot of savings there,.. what I want to learn now is how to invest in bonds and stocks..
!LADY

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I, too, am employed. With the right mind-set, you can be wealthy!
Assuming that you have some amount set aside for an emergency fund... Just start investing a few dollars (or whatever currency you deal with) consistently in a stock (there are so many brokerage firms in Hong Kong), while you learn about stocks and bonds. Self-education is so important! A brokerage firm trades stocks, options, bonds, mutual funds, ETFs. And when you are ready, you can invest in several stocks. Choose stocks that have dividend reinvestment. There is so much to discuss. But determine how much to invest and start investing.
(I'm not a financial advisor.)
!LADY
!BBH

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No matter how large or small earnings the saying goes 50/30/20. Fifty percent to live from, 30 for wants and needs the twenty is for savings although this one really has to be disciplined to achieve.

Even with a lifetime of savings one never knows what could happen, planning is good still not a given.

!LUV
!PIZZA
!WINEX

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Great numbers to go by, @joanstewart 50/30/20!
!LUV
!PIZZA
!LADY

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Not easy when you have little ones in a home, rough idea on what to work toward.

!WINEX

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image.png
!LADY

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View or trade LOH tokens.


@silversaver888, You have received 1.0000 LOH for posting in Ladies of Hive. We believe that you should be rewarded for the time and effort spent in creating articles. The goal is to encourage token holders to accumulate and hodl LOH tokens over a long period of time.

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Distracted by all the gold coins. :) !LADY !BBH !DOOK

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!LOL
I am as distracted as you are!😂
!LADY

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(Edited)

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I love seeing some of your collection... You're awesome...

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Awww... you are as awesome too, @pocketechange !
!LADY
!LOL

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So very glad you prepared years ago @silversaver888!👍😊
Now, if you would talk to my youngest son and convince him as well Lol!😇
Time flies by so quickly !🙄

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They will realize it soon, @silvertop ! How old is your youngest son, may I ask?
Yes, time goes by quickly!
!BBH

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36 years old @silversaver888 where did the time go Lol!🥰
This is my son that is married to the Hungarian lady. I tell Liz, that this is probably the best thing that came out of us moving to the northwest Bill finding his wife Agi (Agnes)!🥰

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Ms. Saver @silversaver888
I miss You when I don't see a Post Everyday. Hopefully you are doing Better and Feeling Stronger today.........

!LUV
!LADY
!PIZZA

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I'm trying to get back to posting every day, @stokjockey.
!LUV
!LADY
!PIZZA

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Great advice! I love being able to be my own back using some savings vaults when unexpected costs appear. For a bit I had to eat up our savings recently, but almost back on track and working on growing that savings vault much bigger this year to then do even better next year.

Every month, precious metal buys are part of the budget as well.

You are an inspiration !LUV !LADY

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