Investments as an alternative to retirement
The older you get, the more you think about how you'll live when you can't work full-time.
I'm used to living pretty well, but the prospect of surviving on a pension of a couple hundred dollars doesn't inspire much optimism.
I'd like to put something aside for a rainy day and not worry about my meager pension not being enough to pay for rent, medicine, and groceries.
But everyone understands that simply saving money, especially in the national currency, can lead to retirement with a box full of useless papers.
The ruble is rapidly declining, and now no one is surprised by the exchange rate of 80 rubles to the dollar and 90 to the euro.
Investments that will help you live comfortably in retirement
First of all, I'd like to highlight what's best avoided: don't trust your money to non-state pension funds or various insurance companies, and don't save in the national currency.
I have my own vision of long-term investments, and my first steps were taken back when I didn't have a high income, so there's no point in making excuses about having nothing to save.
My pension investments:
The most liquid and simple option is buying foreign currency, preferably several different types. I prefer US dollars, euros, and Swiss francs.
The most enjoyable option —and in my case, it's also the most profitable—is buying gold. The first 10-gram bar I bought 15 years ago has appreciated fivefold in dollar value. That 10-gram bar was purchased for just over $100.
The most interesting option is buying a parking space, which cost $6,000 and now brings in $500 net per year after taxes. Unlike an apartment, there are fewer problems, stress, and no need to renovate after each tenant.
The riskiest option is acquiring cryptocurrency. I won't go into details, but so far this option hasn't yielded any profit or loss. There were times when I could have sold and made a small profit, but investing in cryptocurrency was seen as a long-term investment, so I decided not to sell for now.
The least profitable option is a foreign bank deposit, which earns just over 1% per annum. I view it more as a place to keep my money than as an investment.
I've already sold my stock portfolio for my own reasons and don't plan to buy any other securities. It turns out this particular investment requires the most control, which I simply don't have the time for.
I'd like to buy a plot of land in a promising location, but that's just a plan.
You can choose any of these options, or all of them at once. The key is not what to choose, but when. The sooner you start saving, the sooner you'll accumulate enough money to feel more secure about the future.
And don't use a lack of money as an excuse, because setting aside just $50 from each paycheck can turn into $600 in a year and $18,000 over 30 years. And if invested wisely, the sum can multiply several times over.
Related articles:
Passive Income with Your Own Hands - https://time-forex.com/inv/pasivnyj-dohod
Where to Buy Gold During a Pandemic - https://time-forex.com/inv/gde-kupit-zoloto-vo-vremya-pandemii
