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How to save for retirement when you are short on cash

It's never that obvious when you are broke and 30 years old to think as far forward as retirement. It seems like a lifetime away and certainly when you are engrossed in life and short of money, it is hard to envisage old age, let alone what you will do when you get there.

Being short of cash is always a problem, though imagine being a frail old lady or man with bad health and a dire shortage of cash. The story is pretty grim compared to having the resistance that young people have. Young people can make do, though if an older person cannot afford heat, did you know that their chances of hypothermia are increased dramatically ?

Looking forward to old age is essential even at a young age, and one of the most advantageous reasons is that long term insurance savings plans give you cheaper rates when you are young and healthy, which may actually be more affordable than you think. Taking a close look at the pennies and what you are doing with them now helps you to protect that future and ensure that you are not just one more statistic that could not afford to pay for fuel for heating, and that ended up in a morgue because of lack of thought.

Doing the math.

Look at what you have as income as well as what you have going out. Only by being realistic can you see what you can afford, and you may be surprised that even credit card companies can be persuaded to give you lower interest rates making your debts less. Putting all the debts in one basket may be a good idea and investing time in finding out what it would cost you and how much it would reduce your monthly outgoings may give you more in your pocket to invest for the future.

There are various investments that can help you in your old age, and among these are included:

*Bricks and mortar
*Life insurances
*Long term savings plans.

Bricks and mortar.

This is an obvious investment. Your home carries a value, and even through all the struggles of paying the mortgage, eventually you get to a time when the mortgage is paid and the home value is yours rather than the banks. Estimating the value of your home, this investment is very useful for old age. Protect it. Look after it, keep your payments up to date, because when you get to old age, it can be traded in for a smaller home suiting your needs better, and the capital released can be used to invest long term to give you monthly income that may just pay that heating bill.

Life Insurances

Life insurance is cheap when you are young,

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