You have two choices when your pension is not enough
If your pension is not enough to live that retired life of your dreams, it’s a reason to be concerned about it. Most people (including myself) are so focused on the presence in their professional careers that retirement becomes a secondary issue.
Suddenly, you are there. It’s time to change life gear and enter the universe of retired people. The daily pillars to which your job was related are all gone. The life as retired is about to get started.
Now, it’s time to do everything you promised your family and yourself. Travel the world, move to a cozy home close to the beach, or up in the mountains, depending on your preferences.
But, the reality catches up with you faster than you thought was possible.
In various previous articles, I have touched on the topic, like this one about the 5 topics that concern seniors the most.
Steps to Take if Your Pension is Not Enough
What steps to take, in which order, and with what priority when you figure out your pension is not enough? It all depends on how you would like to live as retired. Just a few years ago, you had few or very few options. It “was what it was.”
Thanks to the fast development of the digital world, there are today more options than you can imagine.
But first things first, and in phase number one, you need to capture your overall situation.
Evaluate your current pension savings
Start by carefully examining your current pension savings. Be honest with yourself and consider all the contributions you have made towards your retirement so far. Even if it’s not much, every little bit counts. Gather all relevant information about your pension in one place and calculate how it will impact your future.
Cut down your debts
Debt can prevent you from saving for retirement. Focus on paying off high-interest debts first, as they are costing you the most money. Even if you have a lot of high-interest debt, you can still manage it through debt consolidation.
This can help you pay it off faster with lower interest rates. A low-interest loan or credit card can be helpful in this case. You can also use credit cards with zero interest periods if your credit rating is decent. During this period, you can pay off your debt without accruing additional interest charges.
You Must Do Something When Your Pension is Not Enough
Besides these two steps, there are plenty of other things you can do, such as:
- Change the mortgage plan
- Downsize your home
- Continue working if your boss accepts it
- Letting a financial advisor manage your economy
- …and much more
When I approached retirement age, I had enough money to get rid of all mortgages. I promise you when you no longer have a fixed income from a fixed job, it’s a great benefit to “own” your home and not depend on any bank or financial institution.
As retired, my wife and I agreed on moving to a department of our choice. For us, it was a great decision. We prefer enjoying the lovely ocean from our balcony with a cup of coffee instead of spending hours doing necessary gardening work.
Last but not least, having some sort of work was something I had on my “must” list. Having been very active during my corporate years, well, almost close to workaholic, to just lay back doing “nothing” didn’t exist on my radar.
However, now it was time for me to choose what to do. I should be the one who runs the business, all on my terms.
Not being an IT guru but an ordinary computer user, it became coherent to search for that opportunity on the Internet.
Path for new online marketers when your pension is not enough
When I started to surf around the web to find that opportunity I was searching for, I made many mistakes, but I also made some clever decisions. Today, more than nine years later, I can proudly call myself an online marketer.
Watch the video and get my story. You will learn both what I did wrong and what turned out well. The idea is to let you know as a newbie what you should focus on and also to be careful to make the mistakes I made.
Here are the links mentioned in the video:
When starting to investigate on the Internet, you will almost get dizzy with all the options you’ll find. However, be careful when choosing. There are many scams out there trying their very best to get hold of your money.
Choosing the system and platform I’m a member of will at least be a guarantee that you will enter a serious platform. Besides that, LaunchYou is one of the most complete and versatile systems out there.
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Jan O. Nilsson – What to do When Your Pension is Not Enough for the Life You Want to Live? <== to the top of the page