Planning for the old life is every crucial in ensuring the stability of the retirement life. It’s okay to be caught up in the dilemma of wondering which the required amount to secure a stable life is. At current am 22 years old with an annual income of $ 6000, the current saving in retirement is $300, my today savings per month is $50, and in future, I expect an additional personal income of $1000. My estimated number is a monthly income of approximately $ 1,487 if I retire at the age of 67.
Since life is full of uncertainties the may rise due to factors like diseases, life emergencies or accidents (Damodaran, 2013) . It would mean that the number to ensure that I live a stable life will rise. It is for this reason that I have to keep check of my returns rate for my investments so that it is assuring that all the uncertainties are incorporated. The return rate for investment has been targeted to be moderate at approximately 7% so that the expected monthly income projects to about $ 1,699. To ensure that the growth and returns to investment are maintained, several injections have to be made so that profits will not be compromised.
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Providing stable returns to investment is a critical process. It is of significance that elements like considering calculated risk so that the future of the investment is not jeopardized (Edelman, 2014) . It too much risk is incorporated then it would mean that the success of the organization is not sure. Insurance and making wise investment decisions is among the notch pigments that ensures that stability of the structure is secured. In summation of it all, it is of significance to prepare as early as possible so that the future of the old age will not be full of desperation and shortcomings of income.
References
Damodaran, A. (2013). The Investment Principle: Risk and Returns Models. New York: New York University Publishers.
Edelman, R. (2014). The Truth About Retirement Plans and IRAS: Business and Economics. California: Simon and Schuster Publishers.
