Retirement planning will involve determining retirement income goals, lifestyles and resources required to pursue passions. and what’s needed to achieve those objectives.
Retirement planning includes identifying current income sources, sizing up expenses, implementing a accumulation program, and risk management on assets before and during retirement. Future cash flows are estimated to gauge whether the retirement income goal is possible.
Especially in Singapore, we will also need to project future expense on medical need/ premium on medical plans
Start early will mean a longer runway to achieve your objectives
However, you can start at any time, but it works best if you factor it into your financial planning as early as possible. That’s the best way to ensure a safe, secure—and fun—retirement. The fun part is why it makes sense to pay attention to the serious and perhaps boring part: planning how you’ll get there.
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