COMMON MISTAKES

RETIREMENT PLANNING

RETIREMENT PLANNING

• One of the main reasons that many people hire a financial advisor is to know when and if they can afford to retire. The thought of ‘retirement’ can trigger anxiety and many people feel unprepared and overwhelmed. Find a balance between your current life and the one you want to live when you will retire is among the hugest dilemmas for many people.

RETIREMENT PLANNING SERVICE

• That explains why they make some mistakes that can be avoided with a good retirement planning. • One of the common mistakes made when planning

your retirement is to live too large. Many people do not know exactly the amount of revenue they need in order to maintain their actual lifestyle once they retire. Some of them made a wrong assumption.

RETIREMENT PLANNING DUBAI

• If the guess is too high, the objective of retirement may appear definitely unreachable and the entire process of retirement planning is discouraging. However, the guess is too low most of the time and that exposes the retiree, later in life, to a hard financial situation and forces him/her to make unwanted, drastic changes. You have to keep in mind that you will need roughly eighty percent of your actual annual revenue in retirement.

RETIREMENT PLANNING DUBAI

• Most of clients underestimate the amount of money they will need in retirement. You have to know that retirees tend to spend more money in eating out, entertainment, and travel particularly at the beginning of their retirement as they have the good health and time to savor those activities. The cost of their health care can escalate when they will get older.

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planning-why-and-how/

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