A WALK TO REMEMBER

They say that retirement can be the saddest or the happiest day of one’s life. Thus, there is a greater need for the greater masses to have a better understanding if not a greater appreciation to prepare and improve our retirement outlook. Last January during our evaluation and planning, my hubby and I included a retirement savings plan in our budget. We realized, we are not getting any younger and saw the need to realign our expenses and save a certain percentage from our income for our retirement trust fund. This should be part of our long-term goal as it must also be for the many of us in the working class.

Most of us work to spend for what is only for the day’s needs. The doubling rise of the commodities’ price and other household payables are just overwhelming and too much a burden for the ordinary working people like us (house mortgage, food, education, transportation, insurances, and medication) the list goes on and on… However, what if the unexpected happens and you are laid-off from your job or worst yet your company suddenly declares bankruptcy? You will be groping in the dark with nothing to hold on and your future will be so bleak. This is what we need to look beyond the day-to-day needs. Our future and our security as well depend on how we are prepared today. Saving money may not be that exciting to many but it is the smartest thing to do in today’s changing world.

Right now, we are considering several options for our retirement. We came across these savings options for retirement and we want to know what will work best for us. My sister-in-law told me of a saving’s scheme that she considered the best and that is the Roth IRA. Hearing from her talking about a tax-free retirement savings account that grows tax deferred, and in which one pays zero taxes when he withdraws the money at retirement simply amazes me. If only we have it here in our place, my hubby and I would surely avail this.