MEDITATIONS FOR TOMOROW BIZ

Candidly,one thing that greatly saddens me is seeing elderly people working their heads off instead of appreciably enjoying life,hence I never stop asking myself '' what were this people doing when they were young?Were they not strategic or hardworking  in their youthful years?"

             Over the years I have come to scale down the cause of the problem mentioned above as lack of planing.Yes tragedies may occur but I want you to know that you have the key  to your future; you can determine what happens to it. There is a need for everybody to plan for their future;to plan for their retirement,you can't live or work forever there is a time to rest from all the toils over the years.Think,plan and implement it,your future is in your hands.

Proven ways to plan for the future:

Save more to create liquid cash. Begin depositing a percentage of your earnings as soon as your start working. Start with a modest deposit, perhaps 10 percent of pay. Gradually increase as your income allows. Save $5,000 a year and you'll have about $100,000 in 20 years.

2

Discuss retirement options with your employer. Get information on how to start contributing to your employer's retirement savings plan (401K). Some companies also have pension plans, which are funds available to employees upon retirement.

3

Pay cash and don't accumulate debt. Owing thousands of dollars in your later years might defer retirement as you struggle to pay down debts. Keep debts to a minimum throughout the years to avoid this issue. If currently carrying excessive debts, stop spending and develop a plan to remedy these bills by paying more than the minimum, destroying credit cards and negotiating lower rates.

4

Get rid of your mortgage loan. A house payment can complicate your retirement years. Check your finances to see if you can switch to bi-weekly mortgage payments to help reduce how much interest you pay and to pay off the loan sooner. Alternatively, consider refinancing to a 15-year mortgage to satisfy the mortgage debt in less time.

5

Start your own retirement plan. In addition to contributions made to an employer retirement plan or pension plan, open your own Individual Retirement Plan or IRA for additional funds during your retirement years. Discuss opening this type of account with any bank or insurance company in your local area. Other options for long-term cash include opening a Certificate of Deposit or Money Market Account.

6

Keep hands off your savings. Dipping into your savings depletes how much you'll have during your retirement years. Only use retirement money during an emergency, and resolve to pay back any funds taken from these accounts.

Once again start now to plan for  your future.Think,plan and implement it....