Thursday, October 13, 2022

Retirement Financial Mistakes and Advices

1.      Not planning for retirement

  • How much money needed your based on your current age and assessing your life.
  • Invest in SIP for a long period of time. 

 

2.      Tax – How the tax will affect your retirement life

  • How to save the tax by distributing investments

 

3.      Diversify Investments

  • Growth of different fields will be different
  • Don’t put all the eggs in one basket

 

4.      Inadequate Health Expense considered in life

  • How much will be needed for a hospital visit
  • How much for cost for a nursing home?

 

5.      Not aware of Re-Investments

  • Reinvestment of your money, consider evaluate the investment

 

6.      Not considering the future life style expenses

 

7.      Excessive Dependence on real estate

  • No Cash flow
  • Health dependent – Real estate management 

 

8.      Not considering the longevity will increase and the health will decrease

 

9.      Plan for retirement cash flow

  • How much to take at what time?
  • What kind of life need to spend at that time? 

 Good Habits

 Healthy Life

Audit your retirement expense

Calculate your expense - income - inflation calculation

 Learn about finance - Economics

 

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