plonkee money an english-er's thoughts on personal finance

January 10, 2008

planning for retirement: 3 simple steps

Filed under: retirement — Tags: — plonkee @ 12:00 pm
  1. Start now.
  2. Invest in something sensible.
  3. Repeat step 2 a lot until you get enough to retire on

start now

If you haven’t got any retirement plans in place, then do something about that today.  None of us are getting younger, and we all need to make plans as soon as possible.

invest in something sensible

Do no invest in something that sounds too good to be true, there is no get rich quick scheme. Of course, some people do get lucky, but whilst I appreciate the vagaries of randomness, I don’t want to rely on it to stop me from working for the rest of my life.

A corollary to this is that sensible is usually boring. Boring is good when it comes to the money.

repeat

Keep going. Don’t give up your saving and investing. The more you put in, usually the better off you will end up.

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