Are You Prepared for Retirement?
A recent study has found that 9 out of 10 Singaporeans are not prepared for retirement.
You can watch the news snippet here:
Another article from the Straits Times, Retiring Without the Tears , lists the factors you have to consider before retirement.
They are:
- Retirement Age
- Years to Retirement
- Retirement Lifestyle
- Inflation
- Financial Commitments
- Medical Expenses
- Leaving a Legacy
- Existing Assets and Post Retirement Income
If you have no idea where to start and the link from the Straits Times article is likely to be gone in another few days, you can go to the CPF page where they do a decent set up of how well prepared your are for the day when you finally retire- www.financialfreedom.com.sg. There are calculators, files you can download and explanation of what is needed for retirement.
The longer you have before you actually retire, the better your chances of being adequately prepared for it as you will benefit from compounding interest.
Financial Freedom can be attained if you plan for it and actively do something about it. Save, Plan and Invest for your retirement as the tag above says.
Have an interesting journey to reaching your retirement goals.
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