I encounter people who waste so much money it's pathetic. I wonder if they scam the system or can't see what's coming. I know some people in their 50s that have spent their entire retirement and continue borrowing as soon as they qualify. Their Social Security Income will probably be used to pay for their retirement loans.
Some people have addictions that will make them penniless in their golden years. Gambling and drug addictions are the biggies. Then if you live beyond your means, you will face a lifetime of debt. I might sound like a broken record in my rant, but I pull my hairs trying to understand why some live in a state of fantasy. Some continue to talk about retirement even though they still work beyond their original goals. Sad, indeed.
For those who save and invest and plan to retire in the real world, you get it. Saving and finding ways to make money will boost your retirement income. We all know about putting something aside weekly, and saving company raises and any extra income we make using coupons, etc., these will make a difference in your saving.
We all know about investing, although many are weary of the stock market and hiring a financial adviser. A new way to get a high yield(up to 9%) on your money is to lend money. This new trend is giving better returns than the stock market. And although there are risks, you can minimize them by choosing how much and to who you want to give your money to. The higher the risk the better the return. Two places to try are The Lending Club and Prosper.
The biggest pocket drainers(as I call them) in our daily lives are phone plans, cable television, internet connections, gym memberships, and groceries. My phone plan is $25, I don't have cable television, my internet is $48 down from $56 from another provider, my gym is $10 a month with a $40 annual fee(that most gyms charge), my groceries average $60 a week. That's pretty good but I feel I can do better.
Frugal Shopping sites might help you save on everyday shopping. Here are ways to save on 30 expenses that can add to your savings.
