MILESTONE 10: Hurray! Retiring…

milestone 10- Retired


So after all the planning, investing & making all the recommended financial moves towards 10 lives major milestones and we should be able to enjoy our retirement. As we always said, either we enjoyed the retirement or retired from enjoyment. The only concern during retirement is whether we outlive our savings.
1. Different pot form different money
Know what you need for retirement. Consider to divide your retirement fund into different pot. Set a period for each pot for example 3 years while the rest can be used to invest in safer vehicle.
2. Flexibility is the key
Always set a set some fund for emergency matters. At times you might need to spend more than budgeted amount. However try to make smaller incremental adjustment on your living expenses for example scaling down on luxuries.
4. Medical Expenses
Usually medical expenses will be the most concern area during retirement age. Medical inflation is one of the highest inflation especially with the newest technology estimating about 15% to 20% each year. Always have yourself with comprehensive medical insurance when you are young and healthy.
5. Rebalance
Expert advised to switch your investment portfolio to less aggressive one 5 years before your actual retirement age to prevent jeopardize your pension fund.
Last but not least remember we should always plan to enjoy our retirement and not retired from enjoyment. HAPPY RETIREMENT!

“Retirement, a time to enjoy all the things you never had time to do when you at work.”

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