When are you going to retire? What do you want to do when you retire? How prepared are you?

[pareko89]

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When I retire? Maybe before the age of 60, that is if I am able to finance my children's college education freely without having to work.

What I will probably do is enjoy the rest of my life, hopefully without the grave concern of being financially dependent on my children for food, medicines or whatever.

How prepared am I? Well, still trying to figure it out. If I retire at age 60, I probably have 15+ - years to live. During retirement, I want to have at least 40K monthly allowance. Do the math: 40,000 x 12 = 480,000 x 15 estimated years to live = 7.2 million!

Quiet honestly, I won't say I am pretty much prepared for the above mentioned amount but I am working on it. I barely have 20 years to save for the 7.2 million in order not to lose my dignity or be at the mercy of relatives for support.

What about you? What do you want to do?

[pareko89]

According to NSO 2003 report, 8 out of 10 retirees are financially dependent on their children. When I look around, with people I know, some relatives, I was awestruck and it seems to confirm this finding. Before It didn't really matter to me but when I was able to connect it to a much larger scale like NSO's, it gave me goosebumps to see there is much work to do ahead to retire comfortably. I don't want to be included with those 8 out of 10 aged people.

How about you? Guys, if you have any ideas to share how this problem could be addressed, please share it. This is a reality all of us would have to go through. I have made this thread to help people be aware of an impending problem that could be addressed this early for those of you young professionals and beyond.

[bilateral]

i want to die working lol

[diablo85]

target age for retirement...35-40...
business- manage na lang ka...
den sa balai na daun after tanaw sa mga buhi...
2.99% prepared...

[yhokz101]

Best to way to prepare is to set aside 20% of you income today and invest it to the stock market or mutual funds..

by that time you will have a large sum amount of money (depends on the market performance).. but fairly a good way to start.

Not in business coz 80% likely it will not go as you expected..

[ferdz_9999]

I want to retire at the age of 40, enjoy life, and travel around. Probably have a business of my own too and hire people to produce money for me lol. Right now, I'm doing my best to make money to prepare for my retirement: working hard, saving, investing, doing sidelines and stuff

[trabiz]

I have a huge feeling padung ni baligyaay ug insurance ang topic... lolz

[trabiz]

Honestly, everybody is expecting to retire but there is one thing that is forgotten. Will all of us reach retirement without being disabled? Or will all of us reach retirement?I mean die. Anyway, dili jud kalikayan mahimo kang dependent at that age whether you like it or not cuz you can't predict your future.. Best way jud ani? Better get an insurance, save a bit of cash and stay healthy.

[luff101]

At the age of 60 naa nako ani sa Bahamas nag bakasyon.. hahaha

[pareko89]

Best to way to prepare is to set aside 20% of you income today and invest it to the stock market or mutual funds..

by that time you will have a large sum amount of money (depends on the market performance).. but fairly a good way to start.

Not in business coz 80% likely it will not go as you expected..

@yhokz101

I agree with this, I mean we have to set our sights about how many years we have left to save before retirement. Saving 20% of our income and investing it is ideal. There are a lot of investment tools to use depending on your age and risk appetite. Stock market is good especially for young employees. Bonds are also great for those who are already in their 50's. You see there is an 80-20 rule. When you are a young investor (25-40), go 80% stocks and 20% bonds, reverse it if you are already 50 up. There is a reason for this in trying to manage the risks.

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At the age of 60 naa nako ani sa Bahamas nag bakasyon.. hahaha

Kita lng unya ta didto, hehehe!