Are You Saving Enough?
Have you begun to plan for your retirement? You may be thinking "How in the world is that possible with all of my debt and bills?" However, everyone should plan for their retirement. Even if they start late, they should start as soon as possible when the stock market is going good.
Based on the First Commandment of Investing (covered in detail in a future article) - Buy Low, Sell High - the answer is simply "buy when the price is low". This rule is always worth following. If the market or a stock price are at a new high, it is not a good time to buy. Buy when prices drop, sell when they go up. Like following each of the Ten Commandments of Investing (and the Ten Commandments in The Bible, Torah or Koran) - It is simple, but not easy!
Deciding to borrow or withdraw from your retirement fund is not a fine idea either. Your retirement fund is a long-term endeavor. Retirement planning - and financial planning as well - would normally inform your saving toward that goal. You should not compromise a long-term goal like retirement with short-term needs if you can avoid it. Even if you borrow with the intention of repaying, this often does not happen - particularly if you do not properly plan your finances.
Income protection safeguards your retirement fund in two ways: it allows you to continue saving or at least prevents you from unnecessarily depleting your retirement savings. Being unable to work can have a crippling effect on your contributions. Those without insurance are tempted to withdraw from their retirement plans, even if they incur penalties. Income protection safeguards against employment interruptions, which can lead to retirement fund depletion.
Anyone can begin saving and planning for the safety and financial security of their future. Retirement should not be a time of worry, yet so many end up in a situation where they struggle and fight to remain in control. Many end up destitute and in homes later with nothing to look forward to but death. This does not have to be the case. Do what you can now to get ready to enjoy the Golden Years. Take away stress and worry from yourself, your spouse, your children, and your grandchildren. Leave a legacy of fun and wisdom. Save now and you will not have to pay later. You will be able to live the lifestyle that you are accustomed to and the one you aspire too. You will be able to maintain, pay the bills, and even travel and do extras if you want.
Sir John Templeton was the person who pioneered the investment fund business in the U.S., and later the concept of global investing, before most Americans knew there were other financial markets. He lived his later years living comfortably in the Bahamas. He is one of the real gentlemen of the investing industry who invested other people's money (and his own) very wisely. The first insight seems obvious - if you do not have money you cannot invest it. If that fits your situation, then you should make sure you do not miss an upcoming article on saving and investing. Even those who buy on margin, or sell short, need some money to do this. The other aspect of his response is more subtle - implying that if you do have money, you should be investing it. Sir John was a long-term investor who was very optimistic about the prospects for the world. I can almost hear him say, "there is no time in history where people were as well off as they are today."
Article Source: FxTradingStock.com
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Online access with News That Matters and Information On The Net
by: George C. Lincoln
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Date: Mon, 24 Jan 2011
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