What are the things I should prepare and aim for in time for my retirement?
Gloria A: Retirement is a wonderful time. Indeed, after working for most of your life, you can look forward to a time that is more laid-back, when you can do what you want provided you have the means to do so. That’s the key to having an enjoyable retirement: having a nest egg that is enough to meet your needs for the lifestyle you want. Have you figured out how much you will need to have at retirement? In a nutshell, it may be the amount you spend today, minus bills for your children’s education and home mortgage, adjusted for inflation. That is assuming you have some added protection already in place such as health and hospitalization insurance. Otherwise, you have to add the cost of health care too, which may become more expensive as one grows older. And because you will have no active income coming in at retirement, there’s one other important thing you need to do: Wipe out those debts in time for retirement. Aim to retire debt-free. It will free you up from worrying where to get t
