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Last Updated At: 19/03/2003
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Have you already thought about retiring
? Have you thought about the income you’ll be getting then ? Here’s
something to think about: According to The Department of
Labor statistics, out of 100 people that start working at 25 years
old, by the time
they reach 65 -
1% will be rich, 4%
will have enough money when retire, 3%
will be still working,
63% will depend on social security, friends, relatives
or charity institutions, 29% will
have died.
Everybody has many years to plan
their own future. But these statistics show that only
five out of 100 people have enough money to live with their own sources
by the time
they retire.
How much money did you save last
year ? A lot ? Not much ? What about the last 5
years ? If you don’t change what you are doing now, you will probably
save the same
in the next five years.
Think: If today your monthly expenditures are of only $1,000, you
will need to save at
least $12,000 per year to guarantee your own survival for only one
year of retirement.
Excluding any medical costs or other unexpected expenses that may
come. Scary !
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