This is a Q&A session about personal finance and financial freedom for freelancers and solopreneurs. This time I have a question from Syed Irfan Ajmal who is asking me this:
“What are the optimal tools for evaluation a good pension scheme?”
Watch the video for my answer. Bottomline, don’t trust only the government!
Here is the full text of the video:
Everybody this is Shlomo here and welcome to another Q&A session. And today I have a question from Syed Irfan Ajmal and he’s asked me this.
“Hi I’m from a developing country and I would like to know what are the optimal tools for evaluation a good pension scheme? Something I can use when I’m unable to work due to old age or health reasons. Please note that it doesn’t seem like in our country there is anything much like IRA or 401K’s here.”
So, Syed, my answer is this, I treat my IRA’s or anything that I get special tax benefits of it as part of my portfolio and if this one doesn’t make enough then you have to invest in other channels as well. So maximize all the tax benefits that you can do from those
“Governmental Channels” and things that you can get tax benefits assuming that you are able to get high enough yield from those and we’re not talking about 1% a year and keep investing in your other channels on high yield investments. I hope that helps!
Thank you very much for joining.
Add your other questions right there at the bottom.