Living On Interest

Have you heard about living on interest?  Living on interest is one of the things I wanted when I retired because it means that I have an investments and I can live with the interest it gives me.  It sounds good especially if you are planning to retire without worrying of your financial status but of course this thing can't be done easily if you don't know how to set aside money and where to invest your money wisely.

Retirement can be a shocking experience if you are not prepared.  I know that there are social security benefits that our government can provide but that's not even enough to sustain your everyday living.  You have to prepare now while you are still strong and can work full time.  Don't wait for your retirement to come without big savings. 

I understand that it's not easy to save but if you are following the wealth formula which says that you have to give 10% of your income to God, then 20% of your income should go to your bankbook and just live with the 70% of your income then savings will not be difficult.  All you need to do is discipline yourself and you have to start now.

Put a target on how much you want to earn from your investment and from there you will know how much you need to save.

Posted by Gracie at 2:22 AM