One of the best advice we get from our parents in Africa is
May you kids do for you what you have done for us
but I don't think I just want to tell my kids that alone, I will add something to mine, I will tell them
May your kids do to you what I have done for you and more
hope you know the difference between the two statements?
You shouldn't be that parent whose kids will rescue out from poverty. plan to be that parent that will lay up wealth for their kids, but for that to happen, you will need to start taking some steps today towards achieving that.
note: the points below may be partially related to cryptocurrency in a way
Think long term now
I had to make this point the first point because, from research, those who think about long-term investments with good future plans, tend to make the best gain out of their investments. Few days ago, I gave an example with Ethereum. those held for long made the best gain, but let's use bitcoin because BITCOIN has been on the market for a longer time. if you had invested some $cash into bitcoin in 2009, you would have have been a millionaire today in dollar$.(check bitcoin price charts here)
Get more stable sources of income
Having several sources of income is one of the best ways to prepare for retirement. there are loads of opportunities out there and getting into these several opportunities will create several or extra source(s) of income for you.
If you're a banker today, don't just depend on the pay from your job, no one knows what will happen to the banks tomorrow, make sure to create several sources of income so you can be on a safe side when bankers start having issues with their jobs.
A good example of this kind of experience is the post office jobs some years ago. I once had an uncle who used to brag about his good job at the post office then, now where are those jobs? Sadly he was so proud of his job that he refused to invest in any other thing. he had just one source of income, and when that source closed, he became broke.
Even as humans, our body has spare parts, we don't have one hand or ear or nostrils, we have two, if nature can create two sources, why create one source of income for yourself?
Make retirement BUDGETS now
Living your life without a budget is like traveling without a destination. Before getting out of school or getting to age 50, you should start planning the city where you wanna settle down so you can start making plans now to save towards owning an apartment in your dream city.
Before you're done with school as a student, you should have decided the kind of mansion or retirement lifestyle you wanna have.
Living your life without goals or budget is like a farmer leaving his farm to grow whatever it likes and expecting good crops or a trailer load of foodstuffs during harvest when you didn't work towards that.
start planning now the kind of life you wanna live in when you are 50.
Help others now
This is one of the most neglected parts of retirement plan. people fail to understand that the tomorrow they need can only be created today with the less privileged people around you.
If you dream of a great life during retirement, you should start working hard now towards achieving it and if for any reason you fail to help others grow too as you are growing, those guys you failed to help could end up being terrorist disturbing your life when you get retired.
Be big enough to help others
That is why I tell people to always reach out to helpless kids. the child you fail to help today could be the next medical doctor to bring out a cure for HIV AIDS or cancer.
every child is your child.
You can't plan to live a successful and peaceful life without planning to help others too. Don't be selfish, your prosperity and peace are also tied to the success of others.
