Financial Advisor Rep at Manulife Financial Advisers Pte Ltd. Bsc(Hons), AFP, AEPP - Problem solver to C-Suite & Business owners on Wealth Protection & Legacy Planning
𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞𝐚𝐧𝐬...𝐏𝐥𝐞𝐚𝐬𝐞 𝐝𝐨𝐧'𝐭 𝐣𝐮𝐬𝐭 𝐟𝐨𝐥𝐥𝐨𝐰 𝐭𝐡𝐞 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬!! . . A few weeks ago, I had a chat with an adorable ah ma (around her 70s) in a coffeeshop because she was so friendly. She speaks good mandarin with a little bit of English. I asked her, " Why are you still working so hard at your age, shouldn't you be resting at home and playing with your grand children?" She told me that her husband passed away 5 years ago, 𝐬𝐡𝐞 𝐝𝐨𝐧'𝐭 𝐡𝐚𝐯𝐞 𝐞𝐧𝐨𝐮𝐠𝐡 𝐬𝐚𝐯𝐢𝐧𝐠𝐬 𝐛𝐞𝐜𝐚𝐮𝐬𝐞 𝐬𝐡𝐞 𝐮𝐬𝐞𝐝 𝐮𝐩 𝐦𝐨𝐬𝐭 𝐨𝐟 𝐡𝐞𝐫 𝐦𝐨𝐧𝐞𝐲 𝐨𝐧 𝐡𝐞𝐫 𝐥𝐚𝐭𝐞 𝐡𝐮𝐬𝐛𝐚𝐧𝐝'𝐬 𝐦𝐞𝐝𝐢𝐜𝐚𝐥 𝐟𝐞𝐞𝐬 𝐚𝐧𝐝 𝐡𝐞𝐫 𝐨𝐰𝐧 (both of them do not have any insurances). Her children were all grown up, have their own families and 𝐬𝐡𝐞 𝐭𝐨𝐥𝐝 𝐦𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐞 𝐝𝐢𝐝𝐧'𝐭 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐚𝐝𝐝 𝐚𝐧𝐲 𝐛𝐮𝐫𝐝𝐞𝐧 𝐭𝐨 𝐭𝐡𝐞𝐦 𝐰𝐡𝐞𝐧 𝐭𝐡𝐞𝐲 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐡𝐚𝐯𝐞 𝐬𝐨 𝐦𝐮𝐜𝐡 𝐨𝐧 𝐭𝐡𝐞𝐢𝐫 𝐩𝐥𝐚𝐭𝐞𝐬. So, while she can, she wishes to work on her own to earn some money and keep active until she can no longer. . . . Here are my thoughts: Retirement isn’t just about saving—it’s about having a solid plan that ensures you can live comfortably in your golden years. . . 𝘏𝘦𝘳𝘦 𝘢𝘳𝘦 𝘴𝘰𝘮𝘦 𝘬𝘦𝘺 𝘨𝘶𝘪𝘥𝘦𝘭𝘪𝘯𝘦𝘴 𝘧𝘰𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨: . . 𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐧𝐞𝐞𝐝𝐬: You’ll typically need 70-80% of your pre-retirement income to maintain your lifestyle. . 𝐒𝐭𝐚𝐫𝐭 𝐬𝐚𝐯𝐢𝐧𝐠 𝐞𝐚𝐫𝐥𝐲: Compounding interest works best over time. If you start at 30, aim to save at least 15% of your annual income. . 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐲 𝐲𝐨𝐮𝐫 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬: A balanced portfolio with a mix of equities, bonds, and other assets can help manage risk. . 𝐏𝐥𝐚𝐧 𝐟𝐨𝐫 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐜𝐨𝐬𝐭𝐬: Medical expenses can rise significantly. Make sure you’re covered with insurance and savings. . . . Working with a trusted financial consultant, like myself, ensures you have a personalized roadmap to meet these goals. . Let’s connect to create a plan that’s tailored to your financial situation and secure your future retirement! #planwithElsie #retirementplanning
