Here's what we have in our special report on retirement.
1. Five things to look at close to your retirement
The fundamental behind retiring rich is the ability to plan everything in advance and not leaving anything to chance. You will also need to review your plans every now and then to make sure that it is still relevant towards achieving your goal.If you don't have a plan, now is a good time as any to start one.
2. It's not too late to start thinking about investing
We spoke to a top financial expert Datuk Elamaran Sabapathy who offered
his insights on investments strategies for retirees. According to Datuk
Elamaran, an investor should have a healthy appetite for risk but at the
same time not to take too high a risk with their hard-earned
savings. Datuk Elamaran also added that when building a conservative
investment portfolio, it's important to take a look at your overall
investment plan and your risk profile. "It's all about creating a plan,
balancing risk with the need for security,"
3.Calculate your expenses
Some of the common issues usually faced by retirees is that they are worried about not having enough money to cover their monthly expenses; others are worried that their retirement savings could be depleted by health care costs or inflation. In other words, many are worried about their retirement futures.
4. Figuring out where to live in retirement
Start talking with your spouse or partner about what life might look like in retirement. Do you want to stay in your house, or move to a place where it's warmer?
5. Clear your debt
The settlement of any existing debt should be first and foremost before you retire. This is crucial as we achieve a clean slate and spend our retirement in complete peace of mind. So before you retire, you should aim to settle all your outstanding debts.
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