Financial independence in later life does not just come from how much is earned but also from good money management. It is never too early or late to start a good retirement plan.
There is a big difference between “making a good living” and “enjoying a good life.” Making a good living refers to a person’s earning capacity. Enjoying a good life on the other hand is how the money is spent.
Making conscious and deliberate choices about how the money is spent is the basis for a financially independent life in retirement. The four key elements of sensible money management are:
Bearing in mind that for a better life it is necessary to be financially independent in retirement it is never too late to put into place a saving and wealth creation plan to achieve one’s financial goals.