Is retirement a mere dream or definite reality for you?

I get different responses whenever I talk to different people (be it clients or friends), it is either a mood of anticipation or one of almost despair. But quite often I realised that many people have a fuzzy idea how retirement will be for them. I can understand why the element of uncertainty is present, no one has control over their state of health and in present economic uncertainty, some people especially those in certain sectors and in middle management feel the most impact. Yet, I want to bring some assurance to all who are reading this, every step you take, no matter how small, will still bring you closer to your retirement destination! I think the last thing we want to do is not to plan anything, and hope for the best. To me, in lack of better words, is pure sanity!

So let me just share some pointers here:
– Give yourself a reasonable goal
A reasonable goal is one that is specific, measurable, achievable, relevant, and time bound (SMART). Be realistic with yourself, take stock of your financial situation and ask yourself what SMART goal you can set for yourself in terms of retirement planning.

– Manage cash flow as it comes
Don’t be overly ambitious and commit a big monthly sum as a start, this often can backfire and cause one to stop the plan when it becomes unaffordable due to poor budgeting. Our cashflow will change over time, and it is important to do a financial check of one’s finances before starting to plan towards retirement. Most of the time, I advise my clients to do staggered layers of planning so that they can build towards their retirement dream.

  • Engage a financial consultant to journey with you
    After you set the goal, it is important that you have an independent consultant to help you to assess it so that it is aligned to your risk appetite. It is always good to have an experienced planner to monitor and to adjust along the way. Our finances can change along the way and it is wise not to do this on your own as you plan for this important milestone, share with an experienced consultant why you want to do this, let this person help you to see it from another clearer perspective.

As a planner in this industry for more than 25 years, I am most happy to have this conversation with you, if you are ready to embark on this journey of retirement planning 🙂

Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Eileen Low Geok Lin

I have been in the financial services industry for the past 20 years helping clients to amass wealth and addressing their protection needs. Strong ties with my clients and their families are established over the years as I work on their priorities on a continual basis.
Being an advocate of growth mindset, I strive towards helping my clients and their families to accumulate wealth and helping them grow their investment portfolios. This has honed my investment skills and helps to acquire new knowledge in this ever-changing landscape.
The long term relationships with my clients have been, and will continue to be my source of motivation to strive for excellence in this crucial industry. I wish to work with established individuals and to help families with legacy planning so that their next generation will benefit from the fruits of their labor.
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