HOW CAN SAVING NOW SUSTAIN YOUR RETIREMENT?

RETIREMENT PLANNING 101

Retirement Planning 101:

Gusto mo ba ng financial freedom pag retired ka na?

If you're answer is yes, then you need to start retirement planning now.

When you are young, it is extremely challenging to think about it now. Karaniwan kasi pag bata pa, sobrang busy sa pag-i-start ng careers at pamilya, o kaya naman sa pagpupundar ng mga ari-arian, so it is understandable that they have the reluctance to discuss retirement planning this early in life. Kaya lang, sobrang bilis ng panahon. Every year you waste postponing retirement planning means adding a year depriving yourself of retiring early and enjoying the golden years.

Pano nga ba natin uumpisahan and retirement planning?

Una, alamin ang mga sumusunod:

- age that you hope to retire

- how much money you want to receive in the future to cover for your monthly expenses and medicines

Pangalawa, icompute kung magkano ang total na kakailanganin for your retirement at kung magkano ang dapat itabi starting now. You may need to talk to a financial advisor to compute for you.

Pangatlo, magdecide kung anu-anong method ang gagamitin to fund your retirement. Marami tayong options gaya ng Longterm Healthcare, Mutual Funds, investments, real estate, etc. Gumawa ka ng plano mo on how you can achieve your goal, it's best to have a combination of variable and guaranteed income. One standard plan cannot fit everyone because each person has his/her own unique situations.

After you've done all 3 steps, you need to IMPLEMENT your plan. Remember, a plan without action is nothing at all. You can start by saving small from the income you get from employment and personal investments.

Now that you know what retirement planning consists of, think of it as paying forward and discuss your plans for retirement with a friend or a family member. Or share this post to the people you care about.

CONSIDER BASIC INVESTMENT PRINCIPLE

Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses, implementing a savings program, and managing assets and risk. Future cash flows are estimated to determine if the retirement income goal will be achieved.

FAILING TO PLAN

As the saying goes "If you fail to plan, you plan to fail. Nothing happen by accident, we need to plan our future. We need to PLAN EARLY. if you are on your 20's or 30's you are lucky because you have enough time to plan your retirement. If your are nearing retirement or has already retired, it's never to late, you can also benefit by sharing this knowledge to your kids or love ones.

FUND YOUR RETIREMENT AS EARLY AGE

One way to grow your retirement savings is through the compound interest rate of 12%. When you start saving early your saving will double every six years. A the time you will retire your savings already grow.

Why we need to Invest for our Future?

Old school thinking, "work until you can because not working is a lazy man's doing."

If you still haven't figured out that money can also work for you, you will most probably be working until the last strand of your strength. Work until you die as you are working for the money, to have the money you needed to survive and live the life you desired.