Retirement is an important phase in our lives. While we can choose to deny its arrival by ignoring to plan for it, a well-establish approach to retirement could have a significant impact on your standard of living in later years. After all, retirement plan is a time when we should be enjoying the benefits of our working life.
Set your goals
Once retired, it’s time to start achieving things you put off because you didn’t have time to pursue them. A set of goals for your retirement will help you focus on what is important to you. Write them down, no matter how big or small and start working on your goals.
Find your interest
Whether you stop work immediately or ease into retirement, eventually you’ll be left with a gap where work once was. Find an interest or hobby and focus on it. Committing to a sport like golf or chess, joining a community group or even studying is a great way to stay busy and fulfilled.
Plan your money needs
Once you have an idea of the retirement lifestyle you want, work out how you will finance it. Benchmark your current financial position and factor in the goals you want to achieve along with day-to-day living expenses and financial commitments. Talk to an insurance agent who will help you assess your current situation and offer recommendations on how to make up any shortfall.
Plan your investment
Savings is an important part of any retirement plan. No matter where you are in your career or how much you earn, there are plenty of ways to boost your investment. This includes EPF contributions, investment-link plans and Personal Retirement Plans.
Get your concerns in order
Avoid future stress on your loved ones and get a robust and up-to-date plan for what will happen once you’ve passed. A will, insurance plan and nominating your family members are all important pieces of legal housekeeping. Depending on your situation life insurance is a good way to help you protect what matters most and provide financial security.
Get your resources
Start preparing for your retirement by reading articles, books and magazines; there’s a lot of information and advice available online. Understand how insurance plan or investment plans could help protect you and your family financially. Get a free proposal plan from Getinsured.my today.