How Not to Earn Million for ur Retirement || Blognigigi

Insurance, I guess is a thing now.

It’s a good investment as they say.

But, here are my top reason’s not to let somebody else or institution to take care of your retirement.

1.       Don’t Tie Yourself to 10 years or more Liability

I’m kinda broken record already on saying that money goes out is an expense.

This advice is especially crucial for minimum wage / above minimum wage earner like me because we wanted to be financially free.

And at the same time, we don’t want to sacrifice as much of our present than our future.

I know that there are other ways to achieve financial freedom and that is not compromising the present.

Maybe we can able to endure saving money for a year or two, but for sure we will feel burnout sooner than later if it exceeds more than that.

That is why I am a huge believer of not tying yourself to a longterm payment system, just like insurance, because you will miss out on a lot of things because insurance is like 10 or more years of obligation.

Sacrificing one year and two years, for me, that is endurable.

I did it, saving for two years and that made me feel empowered.

I did sacrifice some of the memories that I might make by saying no to my colleagues at work but for me knowing that money that I saved is invested in the stock market, not only I anticipate a positive return, I also learn a lot from it and is a great goal to prioritize.

Knowledge, as you know, is a huge moneymaker, it's not about seeing paper loss as of the moment but getting valuable knowledge that you can use to your advantage in the future. That leads me to my next point.

2.     How Can I afford It?

I see this question from Rich Dad Poor Dad book. “How can I afford it?”

And it makes perfect sense, all this time our parents, my parents at least, always say that if I want to get something, their answer is always, we don’t have money to buy it.

As explained by RD PD book, that mentality stops our ability to think.

Yes, it's true that we don’t have money to buy it, but does it mean that we cannot afford it later??

That is why I tried my hardest to jump to a work that offers above minimum wage.

I just took a careful step that the work I will be landing at that time is something that I really like.

·         Read Post Here: Apply on Best Company Last

And thank God, He guides me to the work that I like while earning more than the previous job I had.

By jumping to a work that offers higher wage, I did able to save 70k to invest in the stock market and be able to buy quality produce to my family at least a few times a week.

Notice that by jumping out of the minimum wage, it will instantly give you the opportunity to save more and still live your life humbly.

My final point here is that you don’t have to rely your retirement to any financial institution.

With knowledge, you can do it yourself.

Through business or anything, you can think of.

Once you earn more than enough for yourself and paying for insurance is not a liability anymore, that is the time you get an insurance or investing programs that is tied for years.

You might want to check out my Facebook group Before Christ After Christ

I post loads of inspiring thoughts there.

3.     Earn More

True financial freedom gives you time for yourself.

That is why climbing the corporate ladder is not a thing for me.

If I truly wanted to be financially free, I need to think of ways to invest my money and make my money work for me.

I am aiming to increase my cash flow thru acquiring a few investments in the future. Wish me luck with that.

Earning more by multiplying your source of income is the best way to do it.

And it's even better, that if that income doesn’t require too much of your time.

That way you can feel true financial freedom.

Final Thoughts

I am not against any investment that will give you a million in 10 or 20 years.

Everyone is advising us to prepare for our retirement and that is a good thing.

But, please know that there are ways to achieve your desired retirement funds.

And that is not by being more stingy for your basic needs.

 
Us, especially, minimum wage earners, our money is just enough to provide decently to our family, if we try to chop it even more to pay for an insurance policy with investments (for retirement purposes)  and squeeze in your food budget, for example, I think that is a huge mistake.

I think that is not true financial freedom.

There are ways!

For sure, it's different to each and every one of us but for sure there are better ways.

Some people like business, some investing, other are doing sidelines.

It can be anything.

That is it, for now, thanks for reading all the way!

Follow my Instagram and Facebook account