Learn about preparing for life after full-time work through posts from Don's upcoming book.
I thought it might be interesting to check in with a family currently saving for retirement and also getting their next generation thinking early along those lines. You might be surprised by the source for the lesson that the father teaches.
These days the retirement scene is changing, around the world. More and more, the onus is placed on individuals, rather than on pooled arrangements. But it’s possible for new forms of pooling to be made available by employers, associations and unions, and they would help employees enormously.
Here’s a personal view from a global conference on pensions
People don’t realize what a huge impact it has when we add investment returns to our savings over a lifetime, or how important it is to keep the investment effort going after retirement. In this post we’ll look at some numbers and come up with a simple rule of thumb.
In Post #1 we saw that we need to set aside money while we’re working if we want to draw on it later so that we don’t have to work forever. This post picks up on that idea, and explores how much we need to save, as well as what our choices are if we don’t save as much as we need to. Make sure you also read Post #18, which will make you feel much better!
If you’re one of the many who don’t understand the meaning of “percent” or what decimals are, don’t be embarrassed, just read on …
A continuation of #14. If you think about playing cards or tossing a coin, you can learn a lot about fundamental investment principles, and how to think about different kinds of investments.
Have you ever been to a casino? Wouldn’t it be nice if the odds were in your favor, so that you’re more likely to win than to lose? How would you behave, if you were in that position? Aha, hold that thought, because it can teach a lot about investing, as this post shows.
Life is so busy, there never seems to be enough time or even a good time to think about this stuff. And then suddenly something happens and triggers a connection. Let’s examine teachable moments — and their scarier companions, wake-up calls.
Since you don’t know how long you’ll live, what is a sensible planning horizon for the length of your retirement?