How to Save For Retirement During Recession

By SiliconIndia   |   Friday, September 30, 2011
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Bangalore: With ripples of recession spreading far and wide, saving for retirement may not be your priority because you are on a shoe string budget. For many retirement savings can be a tempting, and a quick source of cash when monthly bills are looming. But overlooking retirement during recession can be dangerous. You should consider the fact that saving up for retirement is not a luxury but a beneficial necessity. Because it is your retirement saving that is going to be your financial security in future. Saving money for retirement during a recession isn't impossible, and it doesn't have to be painful either. Have a look at some basic saving strategies. Pay Your Savings First
How to Save For Retirement During Recession
A better idea is to pay your savings account first, as if it were a bill, before any other bills are paid. Opt for a set amount to be deducted monthly directly from your checking account and deposited into savings. If you set up the savings account at the same bank where you keep a checking account, you are more likely to dip into any real savings.

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