3 Things That Could Go Wrong With Your Pension

WHAT'S NEXT!!!

It’s hard to know where this is all headed but the best way to succeed in life as an individual is to identify work you enjoy which enables you to be happy and be with your family anyway. www.LikeSoup.com

Jim Campbell of CA @ Nov 14, 2008 15:31:07 PM

Take Care of Yourself

Companies no longer take care of their retirees. One must take care of themselves. And that means saving at least 10% of your pre tax income from the first day you start working. Invest money every month, rebalance your investments once per year, and become more conservative in your investments as you approach retirement.

This is not easy to do, but is necessary unless you want to work into your mid seventies. Remember that the economy is cyclical. I didn't panic when the DOW dropped from 2300 to 1800 in one day in 1987, nor did I panic when I owned a townhouse with a mortgage that was twice the value of the home. Eventually both those investments recovered.

Recently retired and having suffered losses in my retirement savings (much less than the stock market due to conservative investments), I still have sufficient income to maintain my lifestyle. And the market will recover.

The key to a stable retirement is to save, and start saving as soon as you start working. Plan today for a better retirement.

Bob of TX @ Nov 14, 2008 14:23:13 PM