Sunday, 21 July 2019

How to Ensure you Have a Long Lasting Retirement?

#RetirementGoals. Everyone needs to plan for retirement because there will come a time that you will stop working. Sometimes, it can also be a force retirement.

How you can ensure to have a long lasting retirement?


Let me share with you my three tips:

1. Set a Retirement Goals. This will be a long term goals, a). where do you want to live after you stop working? b.)what age you want to retire?  c). how do you want to live your retirement?

Those are some questions needed to be answered with clarity.
a). I want to retire at the age 45, I have 10 years left or it could be earlier depending on the money I will accumulate in the next 10 years.

b). I want to spend my retirement in the Philippines beside my Father & families in a small town while growing my kids together with my wife.

c). I want to live my retirement with purpose. I will keep working on my online businesses and doing lectures as well as speaking engagements. I could be running a business without being physically present.

2. Set Aside the Retirement Funds. It's also an important part of planning for retirement. I'm dividing my funds into 3 different buckets such as Pension Funds, Educational Funds and Business Funds.

Pension Funds will include those investments for long term such as the stock portfolios & PAGIBIG MP2.

Educational Funds will be for my 2 kids which will be on Mutual Funds investment.

Business Funds will be coming from extra savings. This can also be invested on long term investments that can be illiquid such as real estates, stocks, etc. etc.

3. Set Aside an Extra Retirement Funds. We don't know what will happen in the future. You might get sick, or die early. This fund will be for healthcare & life insurance. These are already covered even before you set aside for other retirement fund buckets. I want to make sure that my loved ones will be free from financial worries in the future.

I'm defining my retirement as escaping from my corporate job of 9-5 lifestyle. Retirement is the time where everything will be covered even without working, this also means passive income is supporting my lifestyle. We can also make a calculations of our retirement in easy way thru calculating your monthly expenses and multiply it by the expected years that you will live after you left the corporate job.

Assignment: Do the calculations yourself?


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How to Ensure you Have a Long Lasting Retirement?

#RetirementGoals. Everyone needs to plan for retirement because there will come a time that you will stop working. Sometimes, it can also b...