FINANCE: Deadly serious about retirement plans.

Hai,

Did you ever ask randomly question to yourself about, how your old age would look alike? And ask about how the financial condition at that time...Are they enough money to survive by yourself? The kids? Your partner too? And are you wanna work until when? 60? 70? Or maybe surprisingly did an early retirement? Huh.

From my own perspective, ordinary people will said that...retirement is a very confidential issue. Oh come on! Even so, to me it still must have a right planning. Are you gonna do that secretly or openly, depends. I want to stress it here, you must plan as soon as possible. The earliest, the better. If not you will leave the boat, and make your own life miserable after that. Too much too handle. 

Like now, I'm 21 years old, but my expectation about retirement topic is the most important thing. I want to plan my life to be comfortable and organize in the future. I still want to travel around the world even I'm aged 70 years old. In to do so, I should make a better plan and manage my money well from now on. And, would you too?

I likes reading and you can check it out some article from 'Personal Money, The Edge Magazine On Managing Your Finances. Issue # 107, July 2010' about some topic how to manage your money. The topic title 'Get Ready For A Rough Ride.' page 54. Here I can summarize what's are going on...

In planning for managing money for the rough day like old age, you must acknowledge some details that will do some effect later. Firstly is age and status. You must have an aiming when to wanna retired, maybe at age 30 or 40 or even 50. The earlier retirement may required more money. And status means something like are you single or married... If you are married how many kids you have later, to think about how to support them. The education fees and all essential later. 

Second, the most important topic is your partner! Are your partner also have a good retirement planning? Are you still in good position if this topic be bring up anywhere or everywhere? If yes, thanks God. If not, just said...Oh my God! Let brain wash him or her everyday. To me, it's not consider rude or uninteresting if you ask this kind of situation before you're married to them or in the earlier marriage. The supported from each other what makes the couple life looks more beautiful. 

After that, you should look up to the basic spending. Same condition like now, at old age you still received those bills and expenses to concern about. The health cover, the maintenance fees, the electricity and water, the foods, the transportation and kids education...Lots! Also, you should watch out for the inflation crisis. Maybe today it only charge you Rm 3, in next 10-20 years later...Rm 100. Uh-huh.

Next is about sides spending. In the old age, you will carry on what you wanna do in life. And those bucket list must be counting in the retirement plans. This part may required more money than expected. I'm not gonna live as a boring old age women, I want a super hype life until I die. I still want to do the world tour, visit my grandchild in France, travel to Japan, hike a mount, enjoy any delicious foods and many more. Get in!

Hurmmm... So, what do you think? Just take a few hours from your busy scheduled and think about it deeply. You wanna enjoy your life today only or continuously? Right life coming from right planning. And vise versa. Clock is ticking, be deadly serious about your retirement looks much how you're be deadly serious about your future. You and I maybe not a financial counselor but a smart people will always win. Fighting!