Be Legendary
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
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
Saving money is an important aspect of personal finance and financial planning. Some of the key benefits of saving money include: Building an emergency fund: Having a savings account specifically for emergency expenses can help protect you from financial hardship in case of unexpected events such as job loss, medical expenses, or car repairs. Achieving … Continue reading The Importance of Saving and Why Many Are Not Doing It.
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)
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
Do you know how much you need during your retirement years in order to have a dignified life? Before you can answer that, there are several other questions you need to address first. Let us explore. To know how much you need during your retirement years, you need to know how long you expect to … Continue reading Will You Outlive Your Retirement Fund?
