Retirement Planning
Retirement planning is an incredibly important step in everyone's life, regardless of age or profession. After all, everyone wants to live comfortably and enjoy themselves in retirement. So, it is essential to begin preparing and planning for retirement as early on as possible.
Statistics show you will probably spend at least 20 years in retirement — hopefully many more. So it's important to develop an appropriate plan to ensure that the dividends of your hard work last throughout your retirement years.
With most of your income earnings years behind you, it is critical that you protect and preserve everything that you invested your entire life to earn and accumulate. You need to protect what you can't afford to lose and develop predictable and tax efficient income strategies that will continue on long after you are no longer able to work.
The amount of money that is required for your retirement is highly personal and will depend of factors such as individual current lifestyles, general state of health, retirement assets, risk profile and the tax efficiency of investments.
Estate planning, although important at all stages of life, is especially vital during the transition to retirement phase and actual retirement phases. In simple terms, estate planning means having your affairs in order, enabling your family and loved ones to make decisions on your behalf upon your death or in the event of mental incapacity.