The retirement plan is a must when for me in my middle age. Although we still healthy and strong, there’s no certainty in life, so everybody who want to live in same level the way we used to live really need a future plan to retire happily.
First thing first of course the health insurance is a must in a retirement plan. Many change in our life, including our health. Even for those who have a very good lifestyle, eating healthy organic food, exercise regularly, have some good and productive hobbies, have some good friends. Even tough only for a basic coverage.
Cost of living is an important point in a retirement plan. Don’t forget that inflation is a factor to sum up. Almost every year there an increase in cost of living. If there’s no income increase, how can we do meet the end with the same amount of money? of course beside a huge tight money policy, we must get another income. Cut size down sometimes help significantly. If we live in a big house with big expenses, we can downsize to a new smaller one, or rent it out so we can have some additional revenue.
How about saving? Of course saving is important for a retirement plan. We can spend it for daily expenses, invest it in some papers, real estate, bonds, gold, foreign currencies or some art work. Saving also important if we plan to have some travelling in retirement time. Saving also needed for extra expenses in health issue, charity project or reserve for some months expenses. Some unintentional evidence.
Just make sure that whatever we want to do in our retirement plan, we have at least basic coverage for our health, enough money for daily, weekly and monthly expenses and enough saving for extra expenses. Make sure that all the money we have work good and smart enough for us, so we can have a happy retirement time.