Getting Ready to Retire_Race Starts

Wow, I've been too busy with my new job that I completely don't have the time to share information on my blog for a long time. Now, I finally got some time to do it after I settled down in my job. I would like to give a big thanks to all readers for your continuous support all this while. 

Recently, I am busy thinking which will be a better way to start my retirement savings, since I have most of my personal protection covered. 

Maintaining healthy finances as you approach 65 is just as important as getting regular medical checkups. Do you know how much you need to have saved to live comfortably after retirement?Most people are "saving blindly. Most of my friends think they'll need less than 70% of their pre-retirement income. But my financial advisor, Joseph, told me that I should plan on at least 80% to 90% of what you're making now to keep up with the standard of living I have now.

Jeff Currie, another online financial advisor, offers this quick assessment of financial readiness: "no debt, a good pension that includes health insurance benefits, good savings and low expenses. All of these factors can lead to a person retiring early. In most cases, the early 50s is about the most realistic and early I have seen. It usually involves an inheritance to boost a person's normal assets."

Therefore, I've started discussing my retirement options together with Joseph to have a better understanding of the many options available in the market. Examples of the more popular channels are through CPF, investment, higher-interest bank savings, fixed deposit, savings/retirements plans by insurance companies/banks, and buying & selling of properties etc. Slowly, I will need to decide which are the ones I will prefer to adopt for my retirement planning.

Choosing a good financial advisor is important. As tax laws, savings options, and benefits become more and more complicated, it's almost impossible to understand your options on your own. You'll navigate the confounding waters of retirement planning better with an experienced guide. "Hire a planner before you retire, someone who'll look at your whole financial picture, from wills and trusts to insurance and advance medical directives. Your best bet is a certified financial advisor, who must pass an examination and live up to a code of standards and ethics.

The sooner one starts, the more time we will have to explore our retirement options and take any necessary corrective actions.