Page 69 - Charles Calhoun Book Rich As You Want To Be
P. 69
Knowing this, don’t let that happen to you.
Why do you need savings for retirement?
Well, invested money can earn money or buy
investments that grow wealth and sometimes can
double your money a number of times. Money you
have saved and invested will produce a flow of
income to protect you from want or the need to
work in order to produce income. It is income
without the need to spend your time and energy
working for it. And that’s a great thing. At that
point, you would be financially independent. You
no longer need to work. Instead, you are free to do
whatever you wish, or do nothing at all if that is
what suits you. The reason people buy lottery
tickets is to get a large payout to become financially
independent. In truth, they could produce their
own fortune simply by saving and investing. And
keep in mind my young readers, at the ages of 65
or 70 most people have some aches and pains or
health issues that could make working a painful
and or more difficult endeavor, or even an
impossibility.
Having invested wealth also protects you
from unexpected or emergency expenses that
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