It’s never too late to save
For many of you, this post and even this site may be surfacing too late for you to fix your 20’s, but that doesn’t mean that you can’t benefit from what you read here. I’ve said before that it seems that most people, no matter what age, treat income like a burnable resource that seems to be perpetually replenished and this just isn’t true. For those who have decided to put aside a small pension pot or savings accounts that’s brilliant, but is that really going to be enough to support you when you take into account inflation … or are you better off dabbling in the spread betting markets to grow it to a number that could make a difference?
Now by no means am I going to start preaching that Trading is the answer to everyone’s prayers here, and should anyone be thinking about jumping blindly into it, please do first check out some of the review sites and education sites available on the internet like reviews.spreadbetting, to make sure you aren’t about to do something rash; I’m merely trying to state the fact that the number of people who have a sufficient level of income to survive on should something happen to them or should they eventually retire is alarmingly low.
So rather than admonish those who have made the mistake up till now, it’s probably best that we look for a solution. So below I’ve made a small list of opportunities to think about to ensure that you have enough there for when you need it – whatever age you’re at.
1) Pension Pot (Private or Company) – While this is not going to make your ends meet, it could subsidise a very diluted state pension by when you need it and at least it saves you tax!
2) Investing / Spread Betting – With Oil prices volatile in the markets currently and the Brexit coming up, anyone who did want to dabble in some spread betting offers should take a look at the benefits of intraday trading – but remember to read up on everything first as this can just as easily lose you money if you don’t bet carefully.
3) Property – Probably not for many of you 20 somethings but for the older generations, this is a great way to generate another income stream (from renting), or turning dead outgoings (rent) into profitable outgoings (mortgage payments) – where you have something to your name when it’s finished.
4) Affiliate Marketing – For those who aren’t familiar with this it is effectively payments in return for lead generation. While this may not yield immediate cash, some affiliate schemes pay upwards of $100 per accrual and this can quickly add up to some serious money for your future
So there you have it – a small selection of opportunities waiting for you to pounce. Good luck and keep us posted as to how you get on or with any other suggestions.