Are you Prepared for your Retirement?

Many people dream of retirement, but have you built the nest egg that will let you enjoy those golden years with the luxury and peace of mind you deserve? How much do you need to save…today?

First thing to consider is the kind of lifestyle you expect. Frequent vacations, a gold membership, money for plastic surgery? Compute the cost of daily living, and factor in things like increased cost of health care.

Second is the property you need. If you want a home by the beach, then start saving for one now – best to buy it now, at the peak of your income earning capacity (you can also earn from that investment by renting it out, though you may have to invest tin maintenance and repairs.)

Third, compute when you plan to retire and factor in inflation rate. That’s how much you need. Now look at your salary, and receivable incomes like retirement funds. Is it enough?

Fourth, set up investments that will let you earn even when you retire. Mutual funds, businesses, rental properties all “work” for you.