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Finance Questions, Loans, Insurance & Investment Advice Latest Questions

spencer
spencerEnlightened Mentor
Asked: May 1, 20242024-05-01T05:14:39+00:00 2024-05-01T05:14:39+00:00In: Money & Business

Can Pension Sustain a Retired Person?

As a retired individual, can pension sustain your needs and livelihood, is there any need to start a business that can help boost your income?

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2 Answers

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  1. Mika
    Mika Expert Mind
    2024-05-05T04:01:59+00:00Added an answer on May 5, 2024 at 4:01 am

    It depends on how much money you are generating, what kind of lifestyle you have, what is the cost of living in your place, whether you have insurance plans or lot, whether you have real estate property or not (where you don't have to pay rents), etc. If our country, pension amount is not enough toRead more

    It depends on how much money you are generating, what kind of lifestyle you have, what is the cost of living in your place, whether you have insurance plans or lot, whether you have real estate property or not (where you don’t have to pay rents), etc. If our country, pension amount is not enough to pay bills, you need additional income source if you want to live a comfortable life

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  2. Avarose
    Avarose Enlightened Mentor
    2025-08-26T06:02:21+00:00Added an answer on August 26, 2025 at 6:02 am

    To be real, a pension can help cover the basics, but for many retired people, it’s not always enough to live comfortably especially with things like rising prices, medical bills, or helping family. That’s why having a small business or side hustle after retirement isn’t a bad idea. It gives you extrRead more

    To be real, a pension can help cover the basics, but for many retired people, it’s not always enough to live comfortably especially with things like rising prices, medical bills, or helping family. That’s why having a small business or side hustle after retirement isn’t a bad idea. It gives you extra income and something to keep you active. Everyone’s situation is different, but relying only on a pension can be tough, so having a backup plan makes life a lot easier.

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