Working as an employee, especially in private, is sometimes quite tiring. It requires a lot of effort, and as others say, you are just helping the owner to be richer. However, we need work to live and earn for daily living.
If you are tired of working and getting a chance, putting up your business is much better. You could earn more, save, and invest as much as possible to retire at the age of the year you had planned.
Speaking of retirement, honestly, I haven't planned it yet. Sometimes, I feel ashamed of myself as I am unprepared for the future. However, it was already on my list this year to avail of an insurance plan when I reached old age.
Yes, I know it was necessary, as I want to be different from those parents that rely on their children and treat them as an investment. It was so hard to be tied up with family responsibilities. No, I am not complaining. Instead, I speak my thoughts based on what I have seen and experienced.
Yet, the question is, when will I be retiring?
Here in my country, the Philippines, the set age for retirement is sixty! That is when you are entitled to receive retirement pay from your employer. How much penny can you get? It depends on your daily rate, years of service and maybe if your employer will be giving you more as gratitude.
Aside from this, you will be receiving your monthly pension from SSS (Social Security System) for those who work in private companies and GSIS (Government Service Insurance System) for government employees. Still, it varies as the number and contribution amount is variable. Thus, one thing is for sure; you will get a higher retirement pay once you are a government employee.
If my memory is right, the basic computation in private companies is; Salary x 50% x # of yrs in service.
I did a mental computation with my current age, so if I would continue working, there are still twenty-seven years before I retire! That means I still have enough time to plan.
What should I consider?
My future offspring
As someone who grew up struggling daily, especially during college, I promised myself that my future kids wouldn't experience the same. As much as possible, their welfare should come first; I would consider retiring once they are settled.
What was my definition? That is when they are done studying, have a job and I am sure they can live independently. Yes, I may not want them to experience hardship, but that doesn't mean I will be spoiling them. They should grow up learning to do things in their own.
Investment
Growing old, I don't want to be a burden, even to my children, so I need to be ready financially. I mentioned above that I plan to start investing in insurance. Yes, it was pretty late; I was supposed to start it in my twenties! It's not yet too late.
Aside from that, I am hoping in the future, the husband and I could have another source of income aside from our salary.
In our we wanted to invest in land, building apartments/residential, but it cost millions! Lol, we still need to get that amount in our savings.
Where will I be retiring?
If those mentioned above are done, and everything is okay, I want to return to my hometown! Yes, the place where I was born. I wonder if it was only in my country, but most of the time, the wife was relocated. She left her comfort zone and moved into her husband's. In my case, it was a hard decision to make, sacrificing being away from my family.
I moved not only into the other town but into the next region, 256 miles away!
screenshot from google map
And so I told the husband I wanted us to return and live in my place when we got old. While talking one time, I even told him once I died, I wanted to be buried there. Do you know what happened? He was so mad at me, lol! He hates it when I talk about death, as we are still young. I haven't yet impregnated you, yet you are talking about death? The exact words he says while almost yelling!
With that, I imagine myself living in our old house back in the province and spending time planting plants, vegetables, flowers, and anything! It could be taking care of some domestic pets like dogs and chickens.
our chicken at home laying eggs just outside and my mother some plotted plants
Drinking a cup of coffee paired with bread in the morning while watching the sunrise and listening to the sounds of nature!
What about you? What are your thoughts about retirement?
Hello to all Silver bloggers here in Hive! I finally got a chance to publish in the community. I have been thinking of it since I joined last year.
This is my entry in Silver Bloggers prompt in collaboration with Dreemport. Check HERE if you want to join.
Lead image was edited using Canva
Image source: WWW.Pexels.Com
Other photos are mine other wise stated
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