Lifestyle as retired is not what you get but a choice you make
The lifestyle as retired is something that everyone should take seriously. If you belong to the baby boomer group, it is even an urgent decision. Here are just a few reasons:
- Longevity – People live longer, which of course is something positive (at least if you're the old one). However, with a longer life follows the worry about how to finance life in the longer term. Your pension funds are not designed for this but for a much shorter life
- Health care – Let's face it, as we get older, we need to attend the doctor more frequently. Do you have health insurance that will cover illnesses and diseases?
- Volatility – Your pension is placed in any sort of fund to generate a return on the invested capital. That's the only way that the system will be able to fulfill the commitment of monthly payments. What happens if there will be a financial crash, which historically occurs once every decade? Your money is not "immune" to a financial crisis.
In summary, there is a general concern most baby boomers worry about:
Will there be enough money to maintain the current lifestyle as retired?....Continue reading!>>