If this isn’t alarming it should because we don’t have the luxury of experiencing our grandpa’s retirement! When your grandparents retired they typically received a pension plus social security. That’s in addition to any savings they managed during their lifetime!
Now retirement is totally on us. We won’t have pensions, we probably won’t have much in the social security pot (without stealing from our children), and taxes most likely will be higher. Seriously, the only person who really cares about your retirement is YOU!
So we need to save! But how?
I think the best and fastest way to save more money is through a side hustle or side business. Our grandparents lived in the greatest time to save and we live in the greatest time to earn!
Earning potential is unlimited and there are literally hundreds of ways to earn extra money! If you are having difficulty saving money, then I challenge you to earn more and save the difference.
Below shows how earning extra money and investing (at an 8% return) over 25 years can dramatically change your financial outlook.
Hopefully this opens up your eyes a little bit. If you find a way to earn an extra $250/month, then you can tack on over $200k to your retirement.
The beauty of side income is once you figure out how to make an extra $100/month, you will soon find a way to earn an extra $200/month, then an extra $500/month. You will continue to earn more and be on your way to way to a financially secure future!
The opportunities are there, you just need to cease them!