Do you ever think about how you going to retire? Before this I read a statistic report shows that most of the people in the world are over confidence on their retirement. So what does it mean? That’s mean people don’t think and plan for their retirement. Retirement is one of the most basic questions you should ask in financial planning. Of course, your investment and income will have some significant effects on this result.

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However, other than that, there are still several factors that will affect how you going to retire. I share 4 factors in part 1. Below is part 2 of the list:

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1. Divorce

Nowadays people divorce is so common and maybe happen on you. If you are suffering from the marriage relationship, divorce will be a good choice for you. However, if this really happen on you, you must fully understand that divorce will reduce your wealth and indirectly affect your retirement. Because when you are divorce, especially male, have to split up your wealth and give to your partner. So you will need more time to “recover” your wealth.

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2. Hobby

What are you doing when you are free? If you always plan to spend money in traveling, dinner with friend, play golf, shopping, then high possibility that you will spend more after you retire. Why? Because at that you have plenty of free time. So when you are planning for your retirement now, you better take consider your hobby and make decision whether how much you need to adjust so you can afford your current hobby after retiring.

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3. Health

Health always has its own relationship with personal finance. We, human, will be old in one day and our health will need more money to maintain. I saw a lot of examples that with one surgery, people can lose, almost, all their 20-30 years of saving. So we can not over see the effect of our health. So if you are overweight now, never exercise, smoking or other unhealthy habits, then you must prepare more for your medical care after retiring.

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Finally I finished sharing the 7 factors that will affect your retirement. I know there are more but in my opinion this 7 factors are the main for them. So if you have any comments or opinions, you are welcome to share with us.

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