6. A Big Inheritance Would Come To Me Someday

Expecting a big inheritance is something like counting chickens before they hatch. Do not think that by the time you reach your retirement, you will get money in some form like Pf or from any other investments that you had made.

However, it’s better to depend on the money that you have saved from the beginning of your career and enjoy your inheritance as a bonus in your retirement.

7. My First Importance Is To Get My Children Into College And Then Focus On My Retirement.

Sending children to college is a huge expense and yes, it’s very important to save for it. But, incase you were not able to save money to pay college fees; you can depend on financial aids like grants, scholarships and student loans that would come as a rescue.

On the other hand, if you fail to save for retirement, you may land up in financial crisis after your retirement.  This means, when you reach retirement it is hard to get any loan approved and your savings can only help you to rescue if you face any cash crunch situation. So, better late than never, start your savings from now.

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