In About 20 Years Or So...

I'll be retiring!

Traditionally, parents work, then use up all their earnings for their family's needs, including those of their parents. They then expect that their children will be the ones taking care of them when they themselves get old.

That is no longer the case. We should realize that our children will have a lot of their own problems when they are already working, and while we would appreciate some "gratitude" from them in our twilight years, they will already have other priorities like the ever rising costs of the needs of their families. That's why it's now important that we save up for our own retirement, rather than "expect" our kids to take care of us when the time comes.

While we are still quite far from retirement age, we do need to save up and invest for retirement. While our children's needs and education may be our top priority right now, I think we should also give it a lot of importance. There's always the SSS where you can get your pension when you're at least 60 years old, but the amount probably would not be enough by that time. I wish that the local SSS pension would be something like that of the IRA (individual retirement account) or the 401k that they have in the USA. It's also recently that I learned that you can actually have a gold 401k or gold ira.

Knowing how to put gold in an IRA or 401k is good because as we all know, cash depreciates. In twenty years, your money wouldn't buy you the same thing that they do now. It's well and good that you can put it in gold instead, because there's a better chance that you'd have a bigger cashout value when the time comes.


John Coktostin said...

Gold is definitely a good investment. It's safe and retains its value. It's also pretty easy to put into an account.