People Are Living Longer. Your Money Must Work Harder!

The average lifespan for all people has been going up. This is due to better technology and huge advancements in health care. Despite the blip downward caused by the Covid pandemic, we are all living longer.

That is great news! However, it comes with its own challenges.

A big challenge is not having enough money once you retire. The fear of running out of money after retirement is a real fear for many people. And, while many governments have pension schemes for older people, it often is not enough on its own. Most government pension schemes are based on augmenting money that one has saved over their lifetime.

Most government schemes are also not adapting to the realities of the demographic future. Countries are aging rapidly putting pressure on these public schemes in the form of benefits, but are not supported by the number of current workers that is needed to maintain the benefits. These public pension schemes are not going to continue in their current form.

Therefore, you have to do more to ensure a good retirement for yourself. I recommend on this blog to get started early and treat your retirement preparation as something close to a job. You must pay attention and be an active part in preparing for your future as an older individual. There are significate tools like compounding interest that are incredibly powerful, but they take time. The earlier you can start the more powerful they become and the harder they will work for you.

So, do not delay. Get thinking about your retirement and your retirement goals and start being proactive in shaping your own future. You will not regret the time and effort that you put in right now.

As always, if you are looking for a gift for the young reader in your life, you can find some great children’s books on Amazon. Just go to these links The Desert Fairies of Oylara, The Rainforest Fairies of Oylara, and The Artic Fairies of Oylara and order them.

Additionally, check out this very cool podcast on Spotify called Gen X Dad and his Gen Z Teens. Entertaining!

Finally, check out some pretty cool music on YouTube if you have a few minutes: Introduction , Mosh, Smoke, Watch Out , and First Day Out. Enjoy!