Have you thought about the kind of life you would like to lead during retirement? Would it be a simpler lifestyle, more or less the same as before, or even one that involves travelling, hobbies and trying our new things? There are also other key considerations. As people age, they will likely spend more on medical care. Just as importantly, consider whether your retirement savings can keep pace with inflation. Of course, we also have no way of knowing how long we will live, and whether our money will be enough.p>
Some people say that two to three million dollars is enough to support a simple lifestyle during retirement. But others believe that they may need between eight to ten million to retire comfortably. Whilst retirement can be costly, different people have different needs. Therefore the first step to retirement planning is find out how much you would need in order to jumpstart your retirement savings plan.
Spend a few minutes to work out your retirement budget and savings plan with The Chin Family Retirement Planner now! Simply answer some questions about your savings, investments, retirement schemes, other retirement income and lifestyle needs, and you will be provided with a free analysis report and an action plan outlining key considerations for your retirement.