Hello there! here is my insight for retirement planning. Most people are not really keen on planning ahead especially when it comes to finance. We keep on thinking that our government pension will suffice in the future. However, we will never know until we have basic knowledge on how to prepare for our retirement and what should be our goal. Here are some pointers for preparing ahead for your retirement.
Know your goal. Knowing what is your target will somehow provide you motivation that you should really start with your retirement plan. Specially when you see the figures
Start early. The earlier the better. No matter how much you start but having it early will give the power of compounding interest. A person in his 20’s will gain more even if he started less compared to a person in his 30’s even if he saves more.
Know where to invest and know your investment appetite. Are you conservative or aggressive. From there you will know where to put your money and check in the future if you can meet your goal set in in item 1.
Diversify. Don’t just put your egg in one basket. Invest in several investment vehicles. There are a lot, aggressive or conservative.
Mitigate the risk. You have to protect your self as an investor, it is best to have yourself an Insurance policy particularly for health coverage. You don’t want to spend your hard earned retirement money for health and illness costs right?
There’s more to put here but for me this is the beginner’s starting point to start building your retirement fund.
If you want to know more and compute for your future retirement plan, please don hesitate to contact me or simply fill the form in home page.
Email: garry.b.orozco@sunlife.com.ph
Mobile: 09985810598 / 09950838735
messenger: m.me/garryorozco
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