In our last blog post, we shared the conventional wisdom when it comes to save and invest for retirement and its problems.
Now we will introduce a new framework to tackle the save and invest for retirement topic, it will divide your journey towards retirement saving into four phases, and each phase has its unique focus.
The New Framework
We can use four key words to describe this new framework, if you do well according to each of the key words in each of the phase towards retirement, you will have great results waiting for you!
Preparation ==> Saving ==> Accumulation ==> Risk Management
The reason we have such distinct phases is each person's income, spending, and ability to save varies greatly throughout life. Steady saving towards retirement is not always easy - just ask anyone who just started working! While saving might not be a problem for baby boomers with no kids to take care of, their worry is no longer saving for retirement, but how to ensure the saving is safe in a few years!
We will explain in more details each of the four phases in next blog post.
Now we will introduce a new framework to tackle the save and invest for retirement topic, it will divide your journey towards retirement saving into four phases, and each phase has its unique focus.
The New Framework
We can use four key words to describe this new framework, if you do well according to each of the key words in each of the phase towards retirement, you will have great results waiting for you!
Preparation ==> Saving ==> Accumulation ==> Risk Management
The reason we have such distinct phases is each person's income, spending, and ability to save varies greatly throughout life. Steady saving towards retirement is not always easy - just ask anyone who just started working! While saving might not be a problem for baby boomers with no kids to take care of, their worry is no longer saving for retirement, but how to ensure the saving is safe in a few years!
We will explain in more details each of the four phases in next blog post.
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