Be Legendary
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
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
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
