Working for a company for 25 to 30 years to have a nice pension is the most risky way to retire. This is because the person does not have power to control his own earnings. The best way is to have a business like real estate or any trade of his own.

Real estate can fetch a person a lot of income when he retires. But he ahs to start early. If one manages to get a property of say 15 rental apartments after accumulating a lot of money then, one can have 30 years of mortgage using this property. When a person retires approximately at the age of 60 years, the tenants has finished paying off. So you get back all the money you once invested.

If a person charges $1,000 a month for a single rental property then, his summation of passive income comes around to be $15,000. So annually, a person begins earning around $180,000. Hence based on market economical conditions one can even raise the amount of rents.