As the world around us changes, our approach to the way we live and experience life will also change. The pandemic has accelerated this momentum and we are seeing an increasing shift in perspectives; especially when it comes to retirement.
Besides the desire to retire early, millennials are also looking for ways to improve the quality of life as they grow older. However, reality can be quite a different thing. Despite their efforts to start early, many millennials are worried that they will not actually be able to retire due to inability to save and the possibility of rising costs.
Are you a concerned millennial thinking about your retirement game plan? Here are some key considerations for you:
Retirement is a state of mind; not a date on the calendar.
Think is it as a ‘financial state’ that provides you with flexibility to make work optional. Some people may choose to continue being engaged by working in a different capacity – which is perfectly fine. Either way, ensure you have started building the solid nest egg you need.
Consider all possibilities – grow your money and protect what you have.
We would all wish to have enough money to last throughout our lifetimes, and to pass on to the people we love and the causes we care about. So the key here, is a carefully-thought-through and well-calibrated planning strategy with solutions that offer you the best of all worlds.
Re-visit your plan regularly; good results take patience and time.
Speaking with your trusted consultant on a half-year basis can be helpful to help you gain some clarity on your progress; especially for the sandwiched millennial generation with many family and financial responsibilities to juggle.
There is always room to make a better game plan. Speak with our team to find out how we can help you optimise your long-term strategy.
