There are only a few guarantees in life, and paying taxes is one of them. Another is retirement. Everyone will face retirement some day, but have you planned for it? The reality is, most of us have not put enough thought into retirement planning and defer it only until much later in life. All of us have priorities at different stages of our lives, but Insurance planning somehow is always the least of our priorities. But if retirement is a certainty, shouldn’t planning for it then be our top priority?
Do you know that if you wish to retire with S$2,000 a month for 20 years, you need to set aside S$480,000, without even taking into consideration inflation? Even then, S$480,000 is a hefty amount to set aside isn’t it?
Retirement is the time when you are finally free from most financial obligations, and settle into the life you have always dreamt of. That’s why getting adequately prepared early is so important. So that when the actual day comes, you do not need to worry about whether you have enough to maintain your current lifestyle, and can focus on living the next chapter of your life to the fullest. The earlier you start planning, the easier it becomes.
For many, retirement can be one of the best and most enjoyable periods of your life, if you plan ahead. Otherwise, you may just have to retire from enjoyment and continue working.
Insurance and Financial Planning 