Retirement is a reality that everyone will have to face some day or another. Most of the young people today think, I got plenty of time for retirement I got no need to worry about it. That is where we are wrong. We need have a rough plan on how your life is going to be leading up to retirement. If not you will not be able to happily be independent when you retire. You might have to keep working after you retire to pay your expenses and so on which is absolutely stupid because retirement is supposed to be the best part of life where you can enjoy and relax. After all the hard work you have put at office, why do you have to keep doing it after your retire? Of course having small part time job for financial advisor at First Class Wealth to keep you occupied and gain a little income is fine but it shouldn’t be everything you are doing.
Talk to a few financial planners and get their financial advice because when it comes to retirement financial is going to be one of the main things that you will need plan very carefully. Here are some reasons why you need to do. Medical emergencies will come along as we age. The more we grow older the more health problems we will have to face. The majority of expenses after retirement goes to health problems. If you don’t have enough cash to pay them you will end up selling assets and what not to keep yourself healthy.
Think about it if you are married you will not only have yourself but your wife/husband’s health to worry about at some point too. This means the expense is doubled. Inflation happens in every country. Expenses that seemed normal at one point is now increased. The money you have save won’t increase like the prices so you need to keep that in the back of your mind and save a little extra whenever you can and spend a little less by eating home food whenever you can.
Depending on which country you live, you need to check if you are being given pension. Most countries do but some countries don’t. You are on your own. You may have in mind that your kids will look after you but do you really want to burden them of looking after you? Today, families are smaller than they used to be. Having 5 kids to look after the parents is understandable but when families get smaller the burden is much more difficult for one or two kids to look after parents. Might as well plan to not seek much help from others and be independent.