Dangerous thoughts on retirement: ‘Better late than never’
Publicado por sam - 30/04/08 a las 04:04:56 pmIf you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
We all get pre-occupied by the rat race. Surely taking a few years off wouldn’t hurt my retirement plan. Or would it?
Anyone who wants to retire well needs to ask himself (1) how long do I expect to live and (2) how much time do I have before I retire?
The last thing we want is to run out of resources after we retire. We would rather bequeath what we have left rather than ask our children to feed us. That’s why the planning horizon is important. We need time to prepare.
Figure 1 in the gallery shows what happens when we have set aside P100,000 (for the lump-sum, just-in-case expenses) and then we add P50,000 each year to our retirement fund. Let’s assume that it generates a return of 5.0 percent per year. Seguir leyendo Dangerous thoughts on retirement: ‘Better late than never’…
