Retirement is a time when you no longer work, and no longer generate income by working. Therefore, when you are planning for retirement, it is very important to ensure that you have income sources so that you can still pay bills even when you do not work and make money. How much you need to make depends on how much money you need to maintain your life. So, what options do you have to cover your expenses and live comfortably after retirement? Well, term life insurance, especially, the endowment plans can be helpful. You can also invest in stocks and real estate to generate income.
How to Plan for Retirement
- Thread starter Mika
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Monster Masterpiece
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You could do a small job. Retirement means no longer work or generate income from work on your domain. But you could for example start a small shop. Additionnally, working let your time full. Going to coffee everyday is something boring and meaningless on the life.
Well, retirement means you do not work, but you can of course do part time jobs or start a small business and generate income. However, you still need to planning for retirement as soon as you start earning because when you retire, you won't have an active income, or at least cannot make a lot of income through part time job or small business, and must rely on the savings and your investments. Early planning helps you to meet your expenses and avoid financial difficulties during your retirement years