How many times have you been told to plan for your retirement by opening a savings account and regularly depositing a certain amount of money there? Or perhaps buying some government treasury bonds and relying on the interest afterwards in your golden years?
The sad fact of the matter is that solely relying on any one of these options is not recommended now. The yields are so low, and the inflation rate is so high (and continuing to increase through the years), that you may even end up owing the bank later on.
As a freelancer, you own our business. You don’t have employers who will pay your pension, and the minute you’ll be unable to work, you won’t earn. There are no vacation leaves, no 13th month pay. We get paid when we work. Period. [Read more…]