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Life after a career can be a scary thought. Let's start planning for it together.
You have dedicated most of your life to make sure your children get the education and life they deserve. You sacrificed your dreams for them. It is now time to consider how you intend on making those dreams come true in second phase of your life: Retirement. However, the thought of change and a lack of income is never easy, but with early and careful planning it doesn't have to be.
Whether it is travelling, teaching or taking care of your grand kids, deciding on what you want to do after retirement will help you keep yourself active and satisfied while helping you plan your required finances. Post retirement is subjective and personal to everyone, but whatever you decide to do, it starts with planning from a young age.
Did you know that Sri Lankan men and women live an average of 72 and 78 years respectively? If you retire at 55, you will still need an income for at least 20 years. Think of retirement saving as an investment in the second phase of your life. Make a list of things that you feel would be the expenses you would incur in the future.
Protect yourself with an adequate healthcare coverage so that you stay healthy and fit to enjoy your retirement. Try to invest 10% of your income in your insurance plan each month. You are actually investing in yourself to ensure you live happily in the future.
people rely on and believe in heavily on EPF and ETF, but that may not be enough. At some point the EPF and ETF will run out and so goes the good life we all thought we could have once retired. Hence the importance of having a sound retirement plan and doing that early.Read more
You will be surprised to learn that in the end people regretted on missing out on the simple things in life. However some people looked back to regret the lack of financial planning to cover income and healthcare costs.Read more
It may sound laughable, but with proper financial and self discipline it just might become a reality.Read more