Retirement Planning: Why Plan For Retirement?
Old age typically brings medical problems and increased healthcare expenses.
Living out your retirement years in comfort while also covering your medical expenses may turn out to be a burden too large to bear.
SIMILAR ARTICLES & IDEAS:
Savings and investments should be part of a monthly budget even when young or just starting a career.
You cannot save enough if you are waiting until your late 30's before...
To have a secure and financially independent retired life during your golden years with regular post retirement income, a corpus of savings/investments and a safe shelter or home.
Growing older without a spouse or adult children means you'll need to build support who can help with your finances, make medical decisions and prevent you from becoming isolated as you grow ol...
Many singles don't have a strong enough backup plan to cover the costs of a major illness or other problems.
Ensure you have enough cash on hand to cover emergencies. For singles, the aim is between nine and twelve months of living expenses in a savings account. As you near retirement, consider bulking up to at least two years of living expenses.
Group long-term disability policies offered by employers typically replace up to 60% of your income.
To ensure you have enough coverage, aim to bring your total coverage up to 80% o 90% of your take-home pay, including bonuses and commissions.