Be Legendary
One of the most important tasks that you must do at any age, but especially if you are approaching retirement, is to evaluate your expenses. Here are some ways you can do it effectively: Track your expenses: What you cannot measure, you cannot control. The first step to evaluating your expenses is to track them. … Continue reading Retirement Series – Evaluate Your Expenses
As we age, here are some of the changes we can expect. Loss of muscle mass and strength Decreased bone density Decline in cardiovascular function Reduced flexibility and mobility Changes in vision and hearing Slower metabolism Increased risk of chronic conditions such as arthritis, diabetes, and high blood pressure. It's important to note that not … Continue reading Retirement Series – How Our Body Changes as We Age.
There is always an element of risk, but investing is good for several reasons: Possibility for better returns: Compared to merely saving money in a bank account, investing has the potential to produce larger returns. While investment returns are not guaranteed, traditionally the stock market has offered greater long-term returns than savings accounts. Investment can … Continue reading Why You Must Invest and Why Some People Don’t.
Instant Gratification Instant gratification, or the urge to meet one's needs or wants right away, can be detrimental to one's finances because it can result in impulsive purchases and overspending. When people give in to desires to purchase items they don't need or can't afford, it can result in debt and other money issues. Studies … Continue reading Retirement Series – Meet Enemy No 2
Not saving enough for emergencies or retirement. Living beyond their means and accumulating too much debt. Not having a budget or financial plan. Not investing for the long-term. Chasing high-risk investments without fully understanding the potential consequences. Not diversifying their portfolio. Not protecting their assets with insurance. Not regularly reviewing and adjusting their financial plan. … Continue reading The Ten Mistakes Most People Make When It Comes to Managing Their Finances.
Inflation. Inflation is a measure of the rate at which the overall price level of goods and services in an economy is rising. It is typically measured using a basket of commonly purchased items, such as food, housing, and energy, and is represented as a percentage change over a period of time, usually a year. … Continue reading Retirement Series -Meet The Number One Enemy
As we age, our bodies go through a number of changes. After the age of 60, some of the changes that may occur include: Muscles may shrink and become weaker, making it harder to move around and perform everyday tasks. Bones may become more brittle, increasing the risk of fractures. Joints may become stiffer and … Continue reading Retirement Series – What Happens After 60 (to most)
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.
