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