Is This What Retirement Looks Like For You? Here’s How to Start Making the Right Moves For the Future, Right Now

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By Alvin Martin

Becoming financially secure is not always about how much moolah you’re making. I know a lot people who have big fat salaries, but are still struggling with their finances and surprisingly, I also have friends who make way less but never have issues with debts and saving up.

When it comes to handling money, I’ve always admired my former roommate Alfred. I met him 9 years ago, we were both single with no big responsibilities but our own selves. I had a higher position in our company and was earning more than him, but every time payday approached, I would always end up borrowing money from him. It was really embarrassing.

It was good thing that he never got tired of lecturing me about how to manage my money. I say that because it was his tireless yapping that taught me how to be more responsible with my financial decisions.

So, when he resigned to start his own business, I kind of envied him. And although it took me another 3 years before I could follow the same path that he took, I will always be thankful for all the things I’ve learned from him.

Millennials, time matters. You should do whatever you can right now to plan your financial future. The following are some tips to help you make good use of your time and ensure that have a happy retirement.

Stay Healthy to Avoid Unnecessary Wasting of Money

One of the reasons why some people have difficulty saving money is because of health issues. It’s very expensive to get sick these days. Imagine all the money you lose whenever you can’t go to work because you’re not feeling well or worse, and the amount you have to spend on doctor’s fees, medicine, hospitalization, laboratories and other medical treatments. And even if it’s just for a simple cough or cold, when you sum it up, it’s still a big thing. So, it’s best to invest in your health to avoid these unnecessary wastes of money.

And speaking of staying healthy, the National Institute of Health funded a new research stating that the more extra weight you’re carrying, the greater your risk of early death. Your excess fat could migrate and cause damage to your liver, pancreas and kidneys, resulting in an increased risk of the Top 2 man killers, diabetes and heart disease.

Unhealthy eating habits could check you out before your time. The study only implies that if you want to live longer and enjoy your retirement, you have to be more conscious with your weight, with what you put in your body and in observing a healthy lifestyle, unless, of course, you prefer to spend the remaining days of your life bed-ridden and completely dependent on your loved ones.

Start Saving NOW

There are so many reasons why you should start saving early. The more time you have, the more money you save, the earlier you reach your goals and the sooner you can retire. There’s also less pressure when you don’t rush things.

In the piece “Here’s How Much a Millennial Needs to Save Each Month to Retire With $5 Million,” writer John Rampton explains that nothing is impossible when you have a solid plan and you are fully-determined to do whatever it takes to achieve your goals.

Find a Support System to Keep You Going

The kind of friends you keep in your life is vital to your success. So, surround yourself with people who encourage you in achieving your financial goals, or teach you the value of responsibility and accountability.

It should also be one of your requirements when looking for someone you want to spend the rest of your life with. You should be with someone who supports themselves, or who has the same financial goals as you do. As a couple, you have to be on the same page when it comes to managing your household finances and planning for your future.

To avoid financial strains in your marriage and other catalysts for money related arguments, check this out – “6 Money Questions Everyone Should Ask Before Getting Married.”

Being secretive about money has real serious consequences, so make sure that you start your new life off on the right foot by talking about everything including debts, income, spending issues and some bank arrangements.

Keep Your Focus & Conquer Distractions

Slow and steady wins the race. So, be patient in dealing with distractions and always keep your focus to stay on track. Combat all potential setbacks such as credit card and unplanned purchases. Also, don’t let any chance to save get away. Get a lunch buddy who also brings lunch from home so that you won’t be pressured to go out and buy expensive food.

To avoid external distractions, writer Adnan Manzoor suggests aligning your personal values with your financial wealth.

Having a clear sense of self-worth or believing that not everything can be fulfilled or achieved with money is a key factor to live a balanced life.