Most of us are ill prepared for retirement. We usually underestimate the amount of savings that we need to live comfortably in our golden ages. As cost of living continue to rise, there is a concern that the EPF nest-egg alone will not be enough for most of us to maintain the lifestyle we are accustomed to.
Hence, the solution is not only to earn more but save more and manage our saving. We can't depend only on one source of income but multiple streams of income or the best way is to have passive income. At the same time, we need to save and manage our saving to let's the money grow. As the inflation rate is higher than the interest rate, the value of our money is become smaller and smaller. Simply stated, we should SAVE AND INVEST OUR MONEY!
With that said, retirement planning involves more than just saving our money. We need to know what to plan for and how to invest our money at different ages with different type of investment tools.
You can check out this website retirement planning for more detailed information.http://www.abcretirementplanning.com/
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