As countless small and home-based business owners struggle to maintain a healthy cash flow amidst poor sales and rising costs on everything from commodities to health care, retirement planning often falls by the wayside. The following tips can help you save for retirement while on a tight budget.
Save For Retirement on a Shoestring: A Guide for Small & Home-Based Business Owners
Posted by
Adam_Gottlieb under Finance
From http://frugalentrepreneur.com 4691 days ago
Made Hot by: ShawnHessinger on June 23, 2011 6:52 pm
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Comments
4691 days ago
Rivkah
4691 days ago
4691 days ago
Oh no! Secret coded language on BizSugar!
Congrats on your HOT Topic!
4691 days ago
Regards,
Adam
4691 days ago
Wonderful advice. It's scary to think that if one had saved $600k & retired right now, what would a dollar be worth in 20 years - a quarter?
Duncan
p.s. As a teen of the '60's, your description of the youth of today's view of the Gubmen is about what it was then - for a minute I thought you were describing a normal, healthy attitude!
4691 days ago
That *is* the normal, healthy attitude- it doesn't matter which generation a person's born in. It's sad, but true. No conspiracy theories needed.
Adam
4691 days ago
I saw a story yesterday on Fox News though. Quite worrying. It said that although many might be able to squeak through retirement by the skin of their teeth, this will be a generation in which a lot of poeple who worked their entire lives will have little or nothing to bequeath to their children upon their passing. In past generations, the death of parents, in addition to sorrow, often meant a nice inheritance. I'm wondering without this nest-egg to get started with whether the next generation will stumble.
4691 days ago
My feeling is that many of the "recession generation" will *not* stumble financially precisely because they realize that everything is up to them- many don't have a nice inheritance or other kind of nest egg to rely on, they may not be able to access financial help from friends/family, they are already in debt from college (if they could even afford to go) and the job market is horrendous in most areas/industries. Many have also seen what can happen to one's wealth/savings: in an instant it can disappear.
I think this generation in particular is shouldering a disproportionate amount of fear, anxiety, depression, and apathy towards the government and its policies.
All of this I think will affect their financial decisions, that is if they are able to find decent work...
It's scary out there for a large population of younger Americans.
Adam