How to Achieve Financial Security in Retirement

27 August 2022
How to Achieve Financial Security in Retirement

It's feasible to achieve financial independence far before retirement age, even if this may seem impossible to many individuals in their twenties.


Despite popular belief, achieving financial independence does not have to include depriving oneself of all pleasures. Given that worrying about money may add a great deal of stress to one's life, achieving this objective offers some immediate advantages.


If you're serious about developing sound financial practices, you may start working and saving now to provide for your needs in retirement and beyond.


Money Habits to Learn for a Secure Retirement


Keep in mind that the appropriate routines may get you to where you want to go and shape you into the person you want to be. Make an effort toward these money habits to improve your chances of retiring comfortably and financially secure:


1. Open a bank account for your retirement or get an insurance policy


You should start saving for your retirement immediately. If you have ambitious plans for retirement, a pension may not be enough to fund them.


There are a number of options for those looking to get a head start on their retirement savings. Retirement planning options include retirement savings accounts and retirement insurance policies. You can pay premiums to insurance firms for about ten years, and then you'll have money to depend on in retirement. This also applies to your financial reserves. When you establish an insurance policy, your money is invested to earn interest, whereas when you create a savings account, your money is merely sitting in a bank.


2. Automate transfers for regular contributions to your savings account


Once you've established a retirement fund account, you should contribute consistently. Choose a regular monthly payment amount. If you decide to start a savings account, for instance, you may put away as little as Php 500 every month. By doing so, you may set a course for yourself. In addition to helping you save for retirement on a regular basis, this may serve as a kind of self-discipline to ensure you really do so.


Alternatively, you can also opt to set up automatic transfers to your account. If it's simple to carry out, you're more likely to keep doing it regularly. If you want to save money without thinking about it, set up regular transfers from your checking account to your savings account. It's a simple strategy for saving money consistently, whether you're trying to save a certain amount each month from your hard-earned money or for the whole year until achieving financial security for your retirement plan.


3. Put effort into understanding financial literacy


It's easy to make money, but far more difficult to put it away and let it grow. Spending a lifetime learning how to manage your money and grow your investments, like buying an affordable house and lot Philippines, is one of the good money habits that you must practice. Your life will benefit greatly from your investment of time and energy into learning as much as possible about personal finance, investing in mutual funds, and becoming financially literate. You can't go where you want to go financially without making some smart choices about your own money and investment portfolio.


4. Monitor your expenses


The best way to see where your money goes is to record it as you spend it. The process "forces" you to examine your spending habits and determine whether or not you are making the most of your money.


When you keep tabs on your spending, it forces you to stay within your budget. If you are planning to retire and make a large purchase, such as a Lumina affordable house and lot for sale, then both of these tasks are essential in order to have enough money for your retirement.


It's possible that you'll find that ordering takeout several times a week costs more than your daily salary rate, or that the monthly fees you're paying for streaming services and memberships you don't use are a waste of your money. Great if you have thousands of pesos of disposable income each month to spend on takeout. But if not, you may start saving money immediately by canceling any unused streaming services that you may have.


5. Always try to spend less than you earn.


Make sure you don't spend more money than you make. Your salary should rise in tandem with your professional achievements and years of experience. If you find yourself in a position where you have some extra cash on hand, rather than blowing it on frivolous things or living a more lavish lifestyle, consider putting that money toward paying off debt or building up your savings instead to achieve your financial goals.


If you can keep your living expenses below the rate at which your income increases, you will have spare cash on hand for investments or emergencies.


6. Don't take out loans to support your lifestyle.


You should employ borrowed funds when your expected gain exceeds your expected borrowing expenses. There are several ways to invest in oneself, including furthering one's education, launching one's own company, or purchasing a brand new affordable house and lot for sale from Lumina Homes through a bank home loan. When this is the case, taking out a loan might provide you with the financial footing you need to go toward your objectives more quickly.


7. Opt for low-risk investments to safeguard your funds


Taking some chances as a young person may pay off in the long term if you do it wisely. If you make blunders along the road, at least you have more time to pick yourself back up while you're young. But if you don't want to put your current savings on risks, then it is best as well to choose investments that have lower risks.


If you want to invest your money securely, it's best to start modest and add to it as your income rises. To do this, one should prioritize assets with minimal volatility, such as affordable house and lot Philippines near Metro Manila. Here are some of the potential choices:

·         Lumina Plaridel – Brgy. Culianin, Plaridel, Bulacan

·         Lumina Pandi – Brgy. Pinagkuartelan, Pandi, Bulacan

·         Bulacan Residences Calumpit – Brgy. Bugurion Calumpit, Bulacan

·         Lumina Binangonan – Brgy. Bilibiran, Binangonan, Rizal

·         Lumina Residences Batangas – Brgy. Santa Maria, Sto. Tomas, Batangas


Real estate investments may be a lucrative venture, and it's worth looking at popular tourist areas like La Union, Sorsogon, and Davao del Norte. Rental income from both short-term and long-term stays in local homes is a viable source of passive income, leaving money or additional funds for your family and your future.


Since rental houses are usually more reasonably priced and provide a more "at home" suburban experience, they are becoming more popular among vacationing visitors. Some of the house and lot for sale from Lumina Homes that you can consider are:

·         Lumina San Juan – Brgy. Calincamasan, San Juan, La Union

·         Lumina Sorsogon – Brgy. Macabog, Sorsogon City, Sorsogon

·         Lumina Tagum – Brgy. Cuambogan, Tagum City, Davao del Norte


In addition, the following Lumina Homes properties in these provinces are suitable for use as retirement residences thanks to their scenic locations and quiet neighborhoods:

·         Lumina Pilar – Brgy. Liyang, Pilar, Bataan

·         Lumina Tuguegarao – Brgy. Carig Norte, Tuguegarao City, Cagayan

·         Lumina Capiz – Brgy. Malocloc Norte, Ivisan, Capiz

·         Lumina Sagay – Brgy. Rizal, Sagay City, Negros Occidental

·         Lumina Butuan – Brgy. Taguibo, Butuan City, Agusan del Norte

·         Lumina Polomolok – Brgy. Cannery Site, Polomolok, South Cotabato



Whether it is for your future investment or retirement plans, there is always a Lumina Homes property that is perfect for your needs and your budget. So make sure to keep your hard-earned money safe and working, especially for our kababayans who work abroad and Overseas Filipino Workers

Recommended Properties

Lumina San Juan


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Lumina San Jose


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