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Does it really make sense to save money for retirement?

King Belieal

King Belieal

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Everything I say in this post is my opinion though. And I feel that saving a particular amount of money for retirement is an illusion because there is actually no amount of money that you can save that would be able to finance your life for maybe, 15 or 20 years that you would live after retirement.

It is better to have concrete investments that increasingly yield for retirement than to be saving for retirement. What do you think?
 
For a employed people like me, there is automatic and mandatory deduction of our salary for retirement. And it's not enough so employees need to come up with something to add during retirement. Those who are not employed it's all up to them what to do to protect their retirement invest or do busines, or rely on the kids once you're old already.
 
Saving personal pension funds are just terms, not in the form of fiat money. If we apply value of money, fiat money will be eroded by inflation, especially in the long term, so its value decreases, so you have to allocate it to hedging assets such as gold or stocks. If you are a worker, whether public or private, you will receive pension funds, but that is not a guarantee that you will be prosperous in old age if you cannot manage your pension funds well.
 
King Belieal said:
Everything I say in this post is my opinion though. And I feel that saving a particular amount of money for retirement is an illusion because there is actually no amount of money that you can save that would be able to finance your life for maybe, 15 or 20 years that you would live after retirement.

It is better to have concrete investments that increasingly yield for retirement than to be saving for retirement. What do you think?
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It essential both to save and invest for retirement to lead a smooth and peaceful.
 
In countries without a social security system, private citizens have to rely on their savings for paying daily expenses after they retire or even earlier if they cannot get paid work or are fraud victims.
 
I think that it does make a lot of sense, today, at least in my country, you can't expect much from the country's pension system which is very disproportionate and poorly proposed, it's better to save and invest on your own.
 
riberet19 said:
I think that it does make a lot of sense, today, at least in my country, you can't expect much from the country's pension system which is very disproportionate and poorly proposed, it's better to save and invest on your own.
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Have you considered that the value of money crashes everyday whereas that if assets keep increasing on a daily basis?
 
Springtime said:
We do not have a pension system here. It is therefore essential for a person to save money so that they can live a quality life when they do not work after retirement.
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That's the whole essence of saving before retirement so that you can live a quality life when they do not work after retirement. you need to stop struggling then
 
Employees will have mandatory contributions to the Social Security system, while freelancers like myself will need to make voluntary contributions. It is essential to be proactive about retirement planning. You must save, invest, and have some passive income.
 
King Belieal said:
Have you considered that the value of money crashes everyday whereas that if assets keep increasing on a daily basis?
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Yes, that's why I also accumulate gold and Bitcoin, because fiat money is inflationary and a ponzi scheme shouldn't I save capital for my retirement and give up?
 
Hate2Wait said:
It makes sense to plan for your after-retirement life and you should do your best to get to a realistic figure and save money for that so that you don't face issues during your retirement life
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Yes, you are so right. I also wonder why some people do not see the realistic picture during old age when our energy is not anymore like when we're young. It's bad to seek financial help from the children. They also have their own family.
 
riberet19 said:
Yes, that's why I also accumulate gold and Bitcoin, because fiat money is inflationary and a ponzi scheme shouldn't I save capital for my retirement and give up?
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Anyways, I am focusing on building a solid business that would sustain me till I die and I handover to my children.
 
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