Q. What mistakes should I avoid when plan my retirement?
A. The most serious mistake people typically make about retirement planning is aim for maximum return for investment.
Don't make this mistake! Instead, focus on risk management: what’s the amount of volatility you’re willing to accept to get the performance on your account and ensure you won’t outlive your money?
If you chase performance, you will live a very stressful life. Why don't you start your retirement planning with an understanding of your true retirement liability?
By focusing on your expenses, you can reframe the retirement question from “How much money do I need to retire?” to “How much money do I need from year to year?", which is a more practical question everyone will face.
How to do this?
We will use next several blog posts to discuss.
A. The most serious mistake people typically make about retirement planning is aim for maximum return for investment.
Don't make this mistake! Instead, focus on risk management: what’s the amount of volatility you’re willing to accept to get the performance on your account and ensure you won’t outlive your money?
If you chase performance, you will live a very stressful life. Why don't you start your retirement planning with an understanding of your true retirement liability?
By focusing on your expenses, you can reframe the retirement question from “How much money do I need to retire?” to “How much money do I need from year to year?", which is a more practical question everyone will face.
How to do this?
We will use next several blog posts to discuss.
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