How to make you sure you don't end up in poverty when you're older?

Work hard and save at least 10% of your income, and invest it. You should save at least 10%. That is the absolute bare minimum. If you can't manage that, you're living beyond your means.

Invest your money over the long term in a broad range of assets, like shares, mutual funds, property trusts, and bonds. That way, when times are tough, you don't lose all your money. Diversification is extremely important when planning your investments. Don't just invest it all with one company, either. Invest it across a selection of investment companies, just in case one collapses.

Buy your own home. Some people will say it's okay if you rent and invest what you would be normally paying on a mortgage, but in reality, nobody ever does this. There are always dental bills, holidays, and other expenses that crop up, and the money just gets pissed up against a wall. So buy your own home, and pay it off as fast as you can. That will give you an appreciating asset that can be borrowed against or sold in the event that you hit a major financial emergency, like you suddenly need to find $20 000 a month for cancer medicine or something. Once you buy one home (a small, modest, cheap one) you can then use that as leverage to buy the home you want, and rent out the initial house.

Don't rely on your pension or social security to pay your way through retirement. Aim to be a self funded retiree. That way, the pension becomes your backup plan, not your expectation.

Don't waste your money on brand new cars. Buy good quality secondhand vehicles. This will save you tens of thousands of dollars over your lifetime.

Be self sufficient. Grow your own vegies. Don't eat take out too much, and don't waste your money on cigarettes. They cause cancer and waste your money. Drink in moderation if you're inclined but don't waste vast amounts of money on booze. Recycle stuff. Don't have more kids than you can afford to support. You have a duty of care to ensure that you can provide for your family until they are able to provide for themselves, so don't have a massive family. Plan for education expenses down the track.

Live in an area you can afford. Too many people move to the big cities and try to eke out an existence there. They can't afford to buy their own homes and live hand to mouth because these areas are expensive. If you know you can't afford to live in a prestigious suburb, then don't try to. Live in a crappy area for a while until you can afford to live where you would like to live.

Best wishes

There are no guarantees, but live below your means, stay out of debt, save as much as you are able, invest wisely.

save your money and invest your money to make you more money

You can't start saving too early in life. Stay out of debt. Know how to live frugally. You can have a good time without spending a fortune doing it.

Any time you have a job, save 10-20%. When you don't have a job, don't dip into that last 10%.

It's painful at first to stay out of debt, but the rewards are worth it.

Invest in your employer's 401k plan or a Roth IRA. The government will not provide your entire pre retirement income after you retire so you are going to need savings to live off of and for unexpected medical bills.

Higher level education.
Be a good employee (i.e. don't do stupid stuff that will get you fired)
Pick a career that is stable and will not likely be affected by cut backs (medicine!).
Don't do illegal stuff.
Save your money.
/DO NOT/ RELY ON CREDIT CARDS.
Stay out of debt.
Pay your bills on time.
Build good credit history.
Only buy things you can afford, and live within your means.

If you are in college, the best option is to get into Health care industry. As long as humans are alive, they are going to get medically sick and you have a job. But it has its own catch, just becoming a doctor is 10 yrs of school and a frustrating life in itself, thats why most doctors dont even have a boyfriend/girlfriend or a marriage until they are in mid-thirties.
Or become an engineer, Aerospace, Electrical, Mechanical, etc..
You can make a lot of money and for sure you will never be poor.

1. save (extremely important)
2. keep your expenses low
3. spend less than you earn
4. plan on taking a job even when you're retired

Make sure you have a job with good benefits and your social security billed up and a plan with your job, with that a person should be fine.

The best way to stay out of poverty is to be wealthy. Read that again; I wrote WEALTHY; NOT rich. Rich is deffines as someone with a lot of money but if you gogle billionaires you will find some that have lost their ENTIRE fortune in the last year. O having lots of money does NOT ensure a comfortable retirement. Wealthy on the other hand is defined as having more PASSIVE income then it costs you to live every month or year regardless of how long you live.
Most peoples advice of going to college, getting good grades, and then getting a good job is what worked for them or thier parents and that is why they give that advice but it does NOT work for most people today where most of the population has to go back to school or get additional training sometime during thier career. Today VERY few people spend 20 to 30 years with one company and retire with a gold watch and a pension since companies quit paying pensions and began using 401Ks that the employee has to pay for and manage.
If you want to be a baker then go to school for bakers. If you want to do anything ; there is usually a school for it. BUT the problem is that there is no school by definition to "Retire Wealthy". So how do you do it? You study what others have done to attain that level of money SKILL. Bill Gates did NOT get to be one of the richest men in America by going to school; in fact he quit scchool to build computers in his garage. Warren Buffet did not get rich cllimbing a vorperate ladder but by BUYING the ladder and letting others climb it.
Saving is a good skill to practice money management but will NEVER let you retire on the interest. What you need to think about, study, and learn is how do you USE money to create money. ANYTIME you have to spend your time to create income; you are limited by the amount of time you have. This is the trap Doctors and lawyers fall into. They go to school ad get a piece of paper then HAVE to spend hours at work to earn a paycheck and if they leave the office their income stops. Does Bill Gates's income stop because he goes on vacation?
Read "Richest Man In Babylon"; read "Rich Dad, Poor Dad" Series. Or try "The Wealthy Barber" for a few to start you out.
DO NOT focus on a big paycheck but instead focus on "How do I make money while I sleep" and THEN you will be able to retire in style.
There are 4 types of income. Earned income, from a paycheck. Dividend income for stocks and bonds. Passive Income from business or rental properties. And Portfolio Income from a stock portfolio or corperate investments. Focusing on a big paycheck is a great way to pay lots in tax but not a great way to generate retirement income.
And do not forget that this is just one side of the equation. Great income producing capacity is a good offense but you also need to play defense by living within your means and controlling taxs and expenses. Too many people focus on generating huge paychecks and do not think about taxs and reinvesting those funds to have money make money. How may sport stars or pop stars make millions and after they retire and dead broke in 10 years??

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