Many of us in welcoming retirement do not plan or think about retirement planning, assumming that EPF savings will be sufficient to support us. However some had to seek re-employment or rely on their children. To ensure that this does not happen, its important to plan to be financially independent during your golden years. Retirement planning involves a few steps to determine the required amount, how much you have now and how to match the difference.
The crucial questions are:
- When you want to retire?
- How much do you need during retirement?
- How long do you need the money?
- How much is the total fund you need?
- How much assets you will have upon retirment?
- How to make up for the difference?
- What you should do now?
You need to work out a comprehensive retirement planning taking into account your assets, debts, expenses, savings and other financial goals. Seek the assistance of a qualified Financial Planner if you find it difficult to do it on your own.
No comments:
Post a Comment