At my previous entry, I’ve dream to retire early but it ain’t easy as talk. In my retirement age, I want relaxing lifestyle. To get this lifestyle, I’ll need to save more. This is some tips that can be used to save for my retirement time.
1. Saving. Am I save enough for my future? Financial planning expert said we need range of 70-80% of our pre-retirement income. There’s a higher percentage to improve future standard of living. The retirement income may be more than our pre-retirement income.
2. Have a plan. We need to have a systematic planning includes assessing current assets, number of years left until retirement and how much we can save during pre-retirement years.
3. Determine what will need. It is important to start find what we need in the retirement years. There’s some factor to consider such as
– Project everyday living expenses
– Life expectancy
– Project cost
– Your income resources.
– Your property
– Your intended lifestyle during retirement
4. Get help from financial planner. If you still not confident about your retirement program, then you may need competent financial planner. You need to have detailed information about your financial affairs such as account statements and other debts.
5. Start saving now. This is time to saving and don’t wait for another year. Waiting will make you losing financial for retirement.
6. Find Extra money now. Other than depend on salary, I’ve another side income like my farm project and blog.
7. Invest. Your money can’t grow by itself. Invest in the trust investment. Don’t trapped at the rich scheme or Iran dinner.
Source :- Investopedia