Making Money Online For Retirement – Earn passive income even after retirement? Or retire early by building passive income Online? Shocking Method revealed!
Making Money Online For Retirement
Hi there, Edmund here.
I have been planning for my retirement since I was in my early 30’s. You may tell me, Edmund, you were still so young and you’ll have at least 25 years of working life before you retire!
You see, I was a financial consultant then and I studied financial planning. I understood this important concept of Compounding Interest.
The most important ingredient for Compounding Interest to work is TIME!
Yup, I have the time that many regretted they had lost when they reached retirement age. Therefore, I started my retirement planning very early at a young age.
Making Money Online For Retirement – If you fail to plan, you plan to fail.
This is a very common phrase that I told my clients when I shared with them about retirement planning as a financial consultant.
Why is it important to plan for retirement?
Did you know that human’s life expectancy is getting longer due to medical advancement?
Do you imagine yourself working beyond 70 years of age so that you can still provide for yourself and your loved ones?
Do you foresee that medical cost is skyrocketing? How about other cost inflation that affects your loved ones such as food or education?
Did you know that some countries are entering the hyperinflation mode at 1000%/year?
Thus, while I have a retirement plan in place, I am also planning for my Passive Income Streams.
In the event I choose to retire and stop working, I would not have to worry about money because I have passive income streams built during my younger years.
My dear friend, if you are serious about your retirement plan, I invite you to read this article seriously.
What I am going to share with you in the next few minutes may help you achieve financial freedom if you plan to retire early.
Even if you have planned for retirement, you may make some extra money while enjoying your golden years.
Alright! Let’s get started!
Making Money Online For Retirement – Plan for retirement
#1 Save and Invest
If you are still young and have the advantage of time, the best and easiest way is set up a regular savings plan.
Set aside a sum of money every month from your income to save and invest in strong and stable funds that pay out dividends bi-annually or annually.
Let Time take care of the compounding effect of interest and the fund’s performance adjusted to inflation in the long term run.
“Save, Invest then Spend the rest.”
Most young adults who just join the working society would do the exact opposite. This is the first time they became independent and earn money by their own.
They can’t resist to many worldly temptations and started to spend and spend. Many fall into credit card debts because of the easy access to their “Future” money!
Therefore, I recommend you to save, invest and then spend the rest.
#2 Purchasing Insurance
Insurance is a very important safety net.
It is like a parachute. When you need it and you don’t have it, you won’t need it anymore.
Insurance to cover for:
- Life is to provide for your loved ones financially in case you leave for heaven unexpectedly.
- Critical Illness is to lessen the burden for yourself and your loved ones financially when you need expensive treatment for your illness.
- Medical Expenses is to lessen the burden for yourself and your loved ones financially when you need expensive treatment and long stays at the hospital.
Therefore, I recommend you to speak to your financial consultant to get yourself covered in the above areas.
#3 Purchasing Annuity
If you do not have the advantage of time or you are reaching your retirement age.
You could use a part of your savings to set up an Annuity Plan, so that at the specified age of your intended retirement, you will start receiving a monthly payout of between $100s-$1000s.
When you are setting up your annuity plans, it is important to consider the inflation cost and the value of your future money too.
#4 Build Passive Online Income
This is an option for anyone from young to old.
Setting up an Online Business in not an easy feat but with hard work and dedication, one can see results in less than one year.
Now the tide has turned because Time has become the advantage for the retired. They can focus on their Online Business full time, without the worry about their family and work.
Thus, making money after retirement full time!
Making Money Online For Retirement – Getting Started.
As a student of Wealthy Affiliate University, I am learning from the excellent training, using the tools, building relationships with the community and at the same time host my Online Business website there.
It is extremely difficult for me not to recommend Wealthy Affiliate University to you.
Because I have never seen another place anywhere else that pieces these 4 core elements together such elegantly that they work seamlessly with one another.
There are many scams Online and I have fallen into their traps before.
I have wasted a lot of time and money looking for an authentic and legitimate ways to make money Online.
Leverage on my losses and head over to Wealthy Affiliate University to check out their FREE* Online Entrepreneur Certification (Level 1) program.
This course is provided free* of charge so that new Online Entrepreneur could have a taste of what is Online Business about and experience the training, tools and community within the academy.
Making Money Online For Retirement – My Story.
I started my Affiliate Marketing business in 2014 and never looked back since.
Wealthy Affiliate is where I learned how to build a Successful Online Affiliate Marketing Business right from the fundamentals.
The best thing about Wealthy Affiliate is that I could start learning how to build my Online Business Passive Income with ZERO prior knowledge on Affiliate Marketing.
Not only that it comes with complete tools and Website building and hosting suite, Wealthy Affiliate comes with live support and help from the owners and the community.
It’s also an all-in-one platform with a fixed monthly fee, and you do not have to worry about other operation costs.
You can even test-drive it first with FREE* Starter Membership in the next few minutes!
I have written a comprehensive Wealthy Affiliate Review and perhaps you can find out more from there.
Making Money Online For Retirement – Wealthy Affiliate Member’s stories.
These are great articles posted by Wealthy Affiliate members and you may be surprised by the wide variety of topics discussed there.
I recommend you to read them:
Lastly, I hope you have enjoyed the article and learned something useful for your retirement plan.
Wishing you the best!
*Please note that some countries are not able to join as FREE Starter Members due to Wealthy Affiliate University’s Anti-SPAM policy.