Put your eggs in many baskets. That’s the best way to ensure you will have enough to spend after retirement.
A MILLION ringgit just isn’t what it used to be. So if you’re thinking of retiring at 40 after making your first million, you might have to make new plans.
Simply having a chunk of money in the bank will not guarantee security, especially after you retire and face a completely different lifestyle with new financial needs. What you need is a sustainable retirement fund that will protect you from the uncertainties of the global financial situation and the increasing cost of living.
Personal financial coach and financial planner Carol Yip encourages people to plan their retirement savings wisely. She believes that people should have various reserves of funds, and regularly review their lifestyle to assess whether their nest egg will be sufficient.
Aside from daily living expenses and post-retirement luxuries, medical costs are our biggest concern during this period.
Click the link below to read more...
Having enough to spend after retirement
No comments:
Post a Comment