July 21, 2013

Just a quick thought of mine

Click on this link to go directly to the Huffington Post article which I believe is absolutely misleading.

  http://www.huffingtonpost.com/2013/07/20/retirement-savings-small-_n_3624082.html

This article might have been so much better if more research was done and/or the article was titled "A Few Ways to Save Money on A Small Salary" instead of "How to Save for Retirement on a Small Salary".  Because this article is obviously about additional ways to save money and doesn't really help someone with a small salary facing retirement.

Currently, only 14% of the country feels comfortable having enough for their "golden years" in retirement - this statistic clearly does not include anyone currently working with a small salary.

If you have a small salary and would like to retire one day (nothing is promised), then spend your life buying income producing assets.  Buy cheap investment properties (some properties here in the US are going for $3000 or less - and it's OK to be a slum lord if you can get some income out of it).  And don't tell me you can't find $3000 - with the average car price on the road today is north of $15,000.