Quote from: AmoreJaz on April 16, 2024, 11:59:09 PM

Quote from: Russlenat on April 16, 2024, 11:57:01 PM

Quote from: Beparanf on April 11, 2024, 09:56:51 AM

Quote from: krishnaverma on April 11, 2024, 09:47:56 AM

It is already causing lot of problems for retired people. How much will this problem intensify in future ?

It’s anyone problem if you don’t save enough during your active years but if you manage to save money then inflation will not be your problem since you have your pension and at the same time savings money through your job salary.

You should consider that retired person usually spend less since they are already at the age which they are not active anymore on social gathering or any form of activities that requires heavy spending. Most of the time they are just buying daily necessities and spend time at home or vacation house. Inflation will only be a problem if you didn’t manage to break poverty during your active years.

Not only saving but certainly investing as well during their active years. Inflation is even worst at these days so it should serve as a reminder that if you don’t increase your source of income like working on some side hustles but only focus to your main job, you will definitely suffer from inflation in the future. Retirement is actually the moment to enjoy and reap your hardships while you are young, but if you care less about it, and instead just focus on spending all your income without thinking to invest, I believe you will end up regretting in yiiur retirement age.

Investing and planning are both needed in order to prepare for the future. Some may not think about it while they are still young, but I would give this piece of advice to my kids. They may not understand it yet, but later on, they will thank you for that

What common mistake made by young people is they can always find time to gain money for their selves since they have plenty of time left in this world that's why they set aside those important things and take first what they can make them enjoy their life. YOLO mindset is the one actually killing their dreams so if they don't realize that certain bad things would ever happen if they didn't prepare for their future then for sure they would regret once they realize that they are in late stage on their life. There's no regret will come first as saying says so to avoid getting broke and sick when we get old much better if we are ready then prepared something so that when we became old and retired already we can still live a comfortable life and we can't bother anyone with this.