financialtreat – will explain about ready to Retire With Good Wealth Management that you will get in the following article. Let’s look at this article carefully!
For people who don’t know wealth management yet, retirement may be a frightening scourge. This is evidenced by the results of a recent survey that state that 90% of employees are not ready to retire. Of course, this fact is very stressful, considering that it has become everyone’s ideal to be able to enjoy life and retirement happily.
The majority of people simply aspire to a happy retirement without preparing for it. In the end they felt a deep sense of regret because his retirement was not as beautiful as imagine. But you can learn from these mistakes and prepare for a happy retirement. The trick is to start retirement planning and wealth management that we will review in the following article.
Why Can’t You Be Ready for Retirement?
Recently a study conducte by Kompas showe that less than 10% of workers are on the right track to guarantee their retirement goals. This value is relatively small. What’s more, a report from Financial Finesse shows that 61% of workers don’t know if their savings will be enough to guarantee a happy retirement.
The group is lost in ignorance due to lack of planning. Like a saying goes “Those who fail to plan, plan to fail.” In the worst conditions, you may have to delay retirement temporarily or forever to survive.
If you don’t want to experience it, then you need to prepare early, long before you enter retirement. Why? Retirement planning is not easy. It takes a long process to ensure your lifestyle remains prosperous in retirement.
With retirement planning, you will get some of the following benefits:
- You can find out an estimate of how much money you need in retirement.
- You can find out how long you have to invest to set up the retirement fund.
Old age fund planning will act as a map (signpost), to clarify the direction of your investment. Did you know a lot of people are investing because they don’t know the direction and are tempte by the “promise” or “lure” of big profits.
It is possible that you can maintain your lifestyle (lifestyle) when retire, so that you can live retirement prosperously. The condition is, do not be late to do old age fund planning. Allows you to still have a source of income as you enter retirement. For example, deposit interest, passive income and so on.
You can avoid mistakes in preparing old age funds, if you have an old age fund planning. Well, so it is proven that planning for retirement is important? But unfortunately there are still many employees who are not ready to retire on the grounds that they do not have the funds to start retirement planning. So how to deal with it? One answer for you is wealth management.
Benefits of Wealth Management
A knowledge or knowledge certainly arises because of the benefits that can be taken from it. This is also true in the case of wealth management, where some of the benefits are as follows:
Guaranteeing a Better Old Age
The standard of well-being in old age for everyone may be different. However, stability and comfort, especially when it comes to finances, is absolutely expecte. Many employees have not realize that their old age is not something that deserves to be a burden for others.
By preparing for old age, then you have minimize the risk of burdening your belove family or relatives in the future. No wonder, the important problem that is the reason for the existence of wealth management is to prepare for old age. With good wealth management in the present, you will have the opportunity to improve your future well-being.
Creating Financial Comfort
If you are still stresse every month in managing finances, it means you have not achieve a financial comfort. It is true that managing finances is not an easy thing, especially with taxes, debt, investments, and other financial problems. Especially for those of us who do not understand economics.
But, inevitably you have to do it in order to get financial comfort. If not for now, for the sake of preparing for a better future. Wealth management can help you find the best way to maintain the current lifestyle for example by finding the right type of investment, preparing for any risks that may occur. Thus you can get financial comfort before entering old age.
Stimulating Good Financial Habits
Managing finances aka good wealth management requires a good habit. This process is a long process that cannot be change just like that. With wealth management, you indirectly apply good financial habits to yourself early on.
For example, investing is a small but meaningful habit in the future. Habits forme early on will continue to carry over until old age later, and the positive effects can continue to be enjoye. With good wealth management, you will be directe to prepare everything in the financial field, both investment and non-investment products, namely by saving in the right place so that old age is calmer.
Faster To Reach Financial Maturity
Financial maturity is not only you can get when at a mature age. With good wealth management, you can get it early. The faster you start, the faster you will enjoy the benefits. Because you will be directe to profitable financial features, such as the right savings options and investments.
But one thing to remember, financial maturity does not mean accumulating as much wealth as possible but also about how to maximize the funds available to continue to grow over time. The existence of wealth management is not only about preparing for the future, but also to help you solve financial problems in the present. Therefore, let’s prepare good wealth management as early as possible!
Tips for Managing Revenue
If indee you cannot or do not want to use wealth management services provide by companies and banks, you can manage your own income. Well here are some ways to manage income according to Setyorini.
First record all sources of income. This type of income is generally much less than the type of cost. The types of income are at least far from: salaries, bonuses, holiday allowances, net profits from personal businesses, donations. So, record all income receive both routine and non-routine for a month.
Second, group all spending posts. Be smart to group expenses.
The more detaile, the better. Third, prepare the bags of expenditure post. Base on the list of spending groups that have been made above, then prepare the pockets of expenditure. Provide dozens of long envelopes with the type of expenditure post writing with their value on each envelope. At payday, for all existing income in accordance with the value state, then put it in a safe place.
Fourth, do financial planning.
Create important posts in name envelopes such as daily shopping, monthly shopping, home contracts, transport, tuition and home necessities that include electricity, telephone and PAM water. There is no need to make drastic savings. The important thing is that you must be discipline and adhere to the budget that has been made.
Fifth, shop at the time of discount.
Shopping at the time of the discount can save, but be careful about buying items or needs that are really neede, because something with a discount is not necessarily frugality or saving.
Sixth, savings as a priority. One of the important things that must be considere is to make saving as a priority. Start saving at the beginning of payday. Think of saving as part of a regular deposit made, if you can’t afford not to force yourself to save a large amount, enough 10 percent of the salary.
Seventh, save the rest of the shopping, make it a habit to also put the rest of the daily shopping money into a piggy bank that cannot be opene at will. If the piggy bank already feels heavy then immediately move the money in the piggy bank to savings in the bank without an ATM card so that it cannot be taken at will.
Eighth, investment. When the savings have reache a certain amount there is no harm if investing into the form of deposits other than money (gold, insurance, etc.). Choose a combine product of investment and insurance, so that if something happens to the deposit, there is insurance that covers it. But if the office already bears health costs, there is nothing wrong if you invest in other forms, but certainly must be able to provide benefits.
Ninth, prepare a pension fund.
Start preparing a retirement fund that will come in handy later on. If necessary, there is financial planning in some banks or other financial institutions that can help.
Tenth, Eleventh, wise in debt. Can be debt but be careful. Debt will always keep up with the changes in life live. However, the debt taken must be in line with the predetermine future goals, for example, mortgages or home-home ownership debt.
When in accordance with financial needs and goals, this is a wise decision. Nevertheless digging a hole by using a credit card to meet a lifestyle that cannot be fulfille will be very dangerous for the family’s finances in the future. So pay close attention before going into debt.
That was the review of being ready to retire with good wealth management. Good luck!