Walau! Those experts are making retirement planning so complicated and full of formula and probabilities. So far Uncle8888 has find this model for retirement planning easier to plan and understand. Less Analyzing. More Retiring - CW8888
The way Uncle8888 plans for his own retirement to build sustainable retirement income for life is ...
Step 1 : Know your past annual household expenses. The longer historical data will be more useful and practical guide to forecast how much money is enough factoring inflation. Step 2 : Don't be afraid to include asset draw-down strategy as part of cash flow to fund future expenses when necessary. This will be the Mother of high probability of success in your retirement planing. Step 3: Include other sources of cash flow e.g. investment income; ad hoc, part-time or free lance income ; even small or little it will help to extend your retirement plan by 0.XX% decimal points. Step 4: Other fixed income for your emergency and medical contingency fund on top of whatever medical insurance you deem to be sufficient and practical for your personal medial lifestyle. People can be very damn funny. They may swear to be frugal and live their daily life in Ward C and choose the cheapest option available to prove that they are frugal; but they fall sick and thinking that they are going to die soon; then they want to choose the best and willing to pay for the best at high costs at Ward A. Strange! Read? Medi Shield or Private Shield?
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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