Be Legendary
There can be a number of reasons why retirees may have difficulty maintaining relationships and connections with family and friends. One reason is that retirees may have moved away from their support networks, either to a different city or state, or to a retirement community. This can make it harder to maintain close relationships with … Continue reading Retirement Series – Relationships and Living Arrangements
Difficulty Managing and Budgeting Finances Difficulty managing and budgeting finances during retirement can be caused by several factors. One reason is that retirees may have a fixed income from sources such as, pensions, savings mandated by the government as in Employees Provident Fund (EPF) in Malaysia, or personal savings, which may not be enough to … Continue reading Retirement Series – Budgeting, Finances and Decisions
Staying mentally and physically active during retirement can be challenging for several reasons. One reason is that retirees may experience a loss of purpose and social connections after leaving the workforce. Without the structure and routine of a job, retirees may find it harder to stay engaged and motivated to participate in activities that promote … Continue reading Retirement Series – The Challenges of Staying Mentally and Physically Active.
Besides financial and health challenges, retirees go through other changes in their once they stop active employment. We look two of those here, namely change of lifestyle and social isolation. Difficulty adjusting to a change in lifestyle or schedule For many people, work provides structure and purpose in their lives, and retirement can leave a … Continue reading Retirement Series – The Challenges of Changes in Lifestyle, Loneliness and Isolation
The are other factors that you must consider apart from having enough money in your retirement fund. Other factors that you must attention are: Health issues and the cost of healthcare Loneliness and social isolation Loss of purpose or feeling of uselessness Difficulty adjusting to a change in lifestyle or schedule Difficulty staying mentally and … Continue reading Retirement Series – Other Retirement Concerns (Apart from Money)
Let us look at some numbers. Table 1 below shows the figures that you will need at the age of 60in your retirement savings. AgeAt 60 Amount needed-25 YearsPresent Retirement FundAnnual Contribution ( 6%)Monthly50155,3743,089,0671,000,000294,35224,53140 254,7175,031,834500.000166,95213,91330 414,9078,196,32580,000108,4769,040Table 1 The first column of the first row, shows the age. If you are 50 years of age this … Continue reading Retirement Series – The Numbers
Why do we procrastinate planning our retirement? Most of us in a paid job will retire. Mandatory retirement differs between countries, most being in the bracket of 60 to 70 years of age. Unless we have a job that allows us to be employed until the day we die, very few of us can expect … Continue reading Retirement Series -Why We Are Not Planning Our Retirement?
The commonly accepted term for life after a career is called retirement. Often seen as a reward after spending a lifetime at work. It can fun in the sun for some but for many it is often a time of fear. The fear is well founded, for when a career or job is finished, most … Continue reading Retirement Series – Retirement and The Need for Planning
There are several ways in which interest is calculated and paid. The simplest of the methods used is called simple interest. The formula for this is \[S=P\times \mathit{r}\times \mathit{t}\:\Longrightarrow {Formula}\:\mathit{1}\] where \[S = Simple\: Interest\] \[P = Principle\: /Present\: Value\] \[\mathit{ r}\ = Interest\: rate\] \[\mathit{t}\ = period\] Let us consider an example of an investment … Continue reading Simple Interest
Over the course of four months, researchers at Harvard conducted a study of over 200 employees at seven different companies. The study required participants to do one simple thing each day – respond to a survey at the end of their workday. The survey asked about the participants’ mood, motivation level and what they did … Continue reading Aim For Small Wins
