Imagine this:
You turn 65 and the 1st month you get a cheque of 2,00,000; what would you spend it on?
2nd Month you get 2,00,000; what would you spend it on?
3rd Month you get 2,00,000; what would you spend it on?
4th Month you get 2,00,000; what would you spend it on?
Isn’t this what retirement should be?? Getting this monthly income without having to worry about anything except where to spend this money…. Not having to worry about saving any off it because you keep getting this income irrespective.
When planning for Retirement it is important to identify the different possible sources of Income you have when you retire.
When you are in your “GOLDEN Retirement Years” you probably don’t want to be worried where the money will come from every month.
Many people can testify to the fact that thinking about retirement is a bit scary. After all, everyone wants to retire at a young age. Unfortunately, it may not always be possible without the help of an outside source. Don’t delay in contacting a Personal Financial Advisor in Whitefield today. It doesn’t matter the age or income. There is always a way to get help regarding finances. Maybe there has been some concern regarding investing in the stock market. This is an excellent way to make money with the right help. Rather than listening to a friend or neighbour regarding how to start this process, meet with someone who has experience.
Someone will be happy to sit down and go over the different things that need to be considered regarding how to start planning for retirement. Many people are unaware of the fact that retiring is possible at any age as long as the money is available. A Personal Financial Advisor in Whitefieldis going to need to know more about every source of household income. They will offer a few simple suggestions regarding how to get started. Even if it seems as if it is impossible to save, it is important to understand that every little bit adds up. People are putting money into the stock market only to find out that it is turning their small amount of money into something wonderful. Never assume that it is impossible until meeting with someone who has experience regarding planning for retirement and living a comfortable lifestyle at the same time.
Details needed when building a retirement income stream:
1.What is your age today?
2.How much Minimum Guaranteed Income do you need every month? (be realistic)
3.How is your health?
4.Retirement is at Age 65 anything before that is a holiday … not retirement (be clear of your true retirement age)
5.How long would you like your income? (forever is usually the answer)
6.Do you have current variable income? If yes; how much of it are you reinvesting back in the variable assets and how much are you diverting to Guaranteed income assets?
If you are unaware on the above; speak to a financial advisor today. Spend some time to discuss and plan the longest vacation of your life… YOUR Retirement!!
