Developing a meaningful retirement planning tool came about through my research into the retirement concerns being faced by the growing number of baby boomer retirees.
These problems are not going away … in fact they are growing, and will continue to grow for at least the next 20 years. These will not be helped by current government's knee jerk reactions to problems caused by their predecessors. They are potentially placing today's financial burdens on future generations.
Unless there are some drastic changes these future generation liabilities will grow as the baby boomer population ages and places a greater financial load on both the social security and medical health systems.
Already countries like Spain, Portugal, France and the UK are being forced to confront these conflicts head on … and there will be many more to follow.
So out of all the concerns I developed a practical retirement planning checklist. A simple retirement planning tool that should be used by anyone involved in the challenging and difficult task of planning for retirement.
When I initially started sharing this advice with my friends and family it was a real eye opener!
And that's when it hit me! Once I realized just how many people were going to be affected and how many of them didn’t know where to turn for advice and support I knew that I could help. Provide the necessary first steps and then to provide ongoing support and guidance as they progressed on their retirement journey.
- Many had never sat down and actually thought about retirement or done the numbers. They had never considered how much money one needed to live through their expected life span.
- Other people just thought things should be fine!
- And others thought that they should be looked after by the government. But looking at the numbers that looks a very unpredictable option!
Be prepared as there are going to be many pitfalls and hazards along the way. This vulnerable retirement market is being targeted by a growing number of 'get rich schemes' and 'instant solutions'.
Also keep in mind that it's not the plan that's so important … it's the planning. The thinking and understanding. As you make your plan write it down so you can review it in future.
It is not the strongest of the species that survive, not the most intelligent, but the one most responsive to change. ~ Charles Darwin
Try and recognise the difference between what is "expert advice" and what Nassim Taleb calls "experts.... who are not experts". Tax law and financial structuring are in the first category and most "financial estimates (guesses)" in the second.
Be assured by knowing that with this retirement planning tool you will have an overall framework for your plan.
It will help you to reconcile your desires and aspirations with your resources. It is up to you to make it happen, or accept it and live your own successful retirement.
Apr 16, 18 08:42 AM
After leaving our Halong Bay cruise we set off on the kilometre or so walk to the jetty and catch the ferry to Gia Luan ferry terminal on Cat Ba island. We had just missed the 11:30 ferry and the next…
Apr 12, 18 09:11 PM
Not realising that there was such an extensive choice of Halong Bay cruise options we selected the Glory Legend Cruise based on their TripAdvisor rating (and the price we were prepared to pay!)
Apr 11, 18 04:20 PM
Yangon or Rangoon, the previous capital of Myanmar, is a city that was allowed to go to rack and ruin. There are signs of revival but they are scarce.