Retire Rich - Don’t do what I did for my retirement, from a financial expert
The Best Way to Understand this site is subscribe the RSS or Email Updates.
Stan Hinden, a financial writer at The Washington Post is trying to remind us some of the “Don’t Do†for our retirement planning. He is sharing some of his real life experience with us in his great article, called “Don’t do what I didâ€Â
ÂÂ
So Without wasting your time, here is some of the main points of his articles:
ÂÂ
What he did wrong:
- Didn’t think ahead
Comment: I think this is the biggest mistake that most people made in their life…. NEVER THINK OR PLAN FOR RETIREMENT. People only realize when they are around the age of retiring but at that time, it may too late for them to start taking action.ÂÂ
ÂÂ
- Flew solo
Comment: Stan Hiden wishes that he should consult a financial planner to plan for his future. Yes, sometimes we need helps from others to do things. In certain condition, it is good to consult a financial planner and let him know your retiring target. They will use their professional knowledge and help you.
ÂÂ
- Tried to outguess the market
Comment: Yes I admit that it is not easy to outguess the market. I think only our God will 100% know what happen to the market. So what can we do? We only can use our knowledge and experience to do this. To gain this kind of knowledge and experience, it is more than reading a book, but instead we need to take action and learn from failure. This is the only way to be a great investor, I think…
ÂÂ
- May Have Shortchanged his wife
Comment: Stan said that he should left some money for his wife. When he was retired, he had 2 options to choose - take the maximum monthly payment or take lesser and leave part of his pension for his wife. Hmm, really hard to make decision. Finally Stan took the maximum monthly payment. But today he wishes he had chosen the second option and left some money for his wife if anything happen on him.
ÂÂ
- Didn’t know about “givebacksâ€Â
Comment: I think Stan really shared with us his own personal experience in this section. Stan was being charged for working penalty. According to Stan, if you are below full retirement age, getting social security and still working, you will lose $1 for every $2 your earn. If you are going to retire on Social Security, than you must pay attention to Stan’s experience.
ÂÂ
- Spent too much
Comment: oh, again this problem also happens on Stan. I think almost everyone of us will have this kind of financial problem - spending too much. Anyway, we know that the wiser we spend our money and lesser depend on our credit card or loans, we will have a brighter financial future.
ÂÂ
I extract some of the point from Stan’s article and give a little personal comment. Please forgive me if I said something wrong. But anyway, please read the full articles of Stan by clicking here, it really worth reading.
ÂÂ
Source : “Don’t do what I did†By Stan Hinden
Some Related Posts
Retire Rich - Retire Math & Calculation,Retire Rich - 7 factors that affect how you going to retire Part 2Retire Rich - 7 factors that affect how you going to retire Part 1Can't Find What You are Looking for? Try Google Search
 |
   
|
Comments
Leave a Reply