“If you are spending first then try to save what is left over, you will often find that nothing is left over.” Cynthia Shepard
So what do you do. Face the music. You do not have enough money but that will change. First put aside money for self or that 6 month emergency fund. No matter the amount put it away. I have mine in a bank out of state with no DEBT card attached. Honestly I forget about it a lot.
Consider: If you put $100 toward your retirement each month — rather than spend that money — at the end of 20 years, you’d have roughly $40,000, assuming a 5% rate of return.
Then take care of your needs, which are: basic food, shelter and clothing. Sorry Jordans are not included in necessities and neither are lashes. Save that money or put into retirement fund no matter how little it appears to be right now, while sitting in that retirement account it is GROWING unlike the purchase of Jordans who have no monetary value once your pay for them.
Rather than racing to pay down your mortgage or student loans (assuming these are low-rate, fixed loans), pay them down on schedule and instead use that extra money to shore up your retirement funds. That way you are using money the bank or the government lent you to fund your retirement. (Sadly, I made the mistake of rushing to pay off some loans that could have waited, but it is a lesson I learned).
Roughly half of high-net worth investors say they have some tangible assets like investment in real estate or farmland that can produce income and grow over time in value.Try that even if you just buy a parking lot to lease to others. Start somewhere. Or you really trying to be aggressive rent out a room in your current house/apartment for a year to get some extra to put towards retirement or savings.
This is just my off the cuff ideas that I have tired and which have worked for me.
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Knowledge is power.