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In Reply to: I think about this more these days posted by Oldtimer on November 11, 2004 at 21:58:43:
I don't know how it works in your country but in mine (Far East) there are a number of insurance policies with reasonable rates that are meant for retirement. Another approach would be to select some long-term low-risk investments, such as mutual funds, endowments, etc. some of which will yield dividends that you can harvest every year, while leaving the principal intact. It's good to have a good mix in your portfolio so you spread the risk. The key to building up a retirement fund, in my case, is to decide how much I can actually afford to put away, lock it up in a financial instrument that binds me not to touch it for x number of years then forget about it. Even if you don't have enough to meet the minimum, just set some money aside and "forget" that you have it, meaning DO NOT touch it for whatever reason. It starts with the mindset that this is a priority and no "emergency" will disturb it. It'll help you to be more disciplined and soon you'll be building it up nicely without even feeling it.
