Wednesday, July 8, 2009
Money at Retirement
How much money is enough for retirement? This is the question frequently asked by my friends when they heard about my retirement. To answer this question, there are several considerations:
- what kind of lifestyle do you want to have after your retire
- how long will you live
- your state of medical health
- your state of finance independence before retirement - any mortgages, any credit card debts etc
I included a link which may be useful. Check it out here.
Another question is when should you plan for your retirement?
The earlier the better. I decided the age of my retirement when I started work at 21. Then I prodded myself through the maze to reach my target. It was a journey I enjoy, loathe and strive but in the end, well worth it.
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