all are true…some are fun too!

1. If you are not sure whether you are saving enough for retirement, you are NOT.
2. The easiest way to outlive your money is to die early, but that may not be such a simple option.
3. If you bought a pension plan to save taxes, that money will pay for your milk and newspaper in retirement.
4. More people spend more time on where to go out for eating than on their retirement plan.
5. If you are 60 when you wake up to retirement, you might as well go back to sleep.
6. Annuity may be boring and useless, but it looks beautiful past age 65, immaterial of when you take it.
7. Yes shares are risky, but, running out of money in retirement is worse.
8. Investing, Asset Allocation, Retirement Planning is like flossing. Do it or pay a huge bill for not doing it.
9. If PF and PPF are your only asset, learn to live as a dependent.
10. Defined benefit pension has been burnt, buried, and really finished.
11. Remember point no.10.
12. Creating an indexed pension is very very expensive.
13. Your biggest threat in retirement is not money, or health, it is boredom.
14. At around 70 years of age convert all your equity funds into an index fund. The smart fund manager may be elusive.
15. Target date funds are a good option, but it is not an option in India as of now.
16. Investing in a high cost fund is like putting a FAT JOCKEY on a good horse. Try getting a thinner jockey, it helps.
17. A reverse mortgage could be a good option only and only if the Govt steps in with some subsidy.
18. Think of reverse mortgage only after age 76, and only if you are NOW in your 50’s. It is far away in India.
19. Rule of thumb, retirement calculators, etc. are at best reminders that you need to do something.
20. If you have not shared with your wife your retirement plans, it means you do not have one.
21. Be ready for being cheated by somebody very close. Senior citizens are the most vulnerable financially at least.

21 is a good start no?