Learn about preparing for life after full-time work through posts from Don's upcoming book.
In this post I explain how to use the Personal Funded Ratio calculator that’s on the website: the principles it’s based on, the questions it can answer, the information you need to provide, where and how I’ve imposed limitations on its flexibility – that sort of thing.
In practice we may add to our savings if we receive an inheritance, and we may want to leave bequests in addition to providing for life after full-time work. In this post we look at how to accommodate those aspects.
There’s a simple concept that is extremely useful. Just compare how much you’ve got with how much you need! Here’s how to apply that concept to see how far you’ve come.
Wouldn’t it be great if we had enough money to create a lifetime income stream, and could live forever in the home we own? Sure! But all too often we need to use our home to help generate that income stream. This post explains four ways to do so.
So here we are, we’ve saved and invested, and we’re ready to stop working and convert our assets from a lump sum into a flow of retirement income that can be sustained for the rest of our life. How can we do that?
There are things that we should be aware of, that could upset our post-work lives from evolving as we hope. Here’s what we can consider, in case one of them appears in our path.
Financial professionals often tell us that they want to speak our language, then retreat into jargon. I’ve learnt about the difference.
In the same way that we observed that there’s more to life than money (see Post #4), so too there’s more to spending money than obtaining something that’s useful to us. Here are some emotional benefits.
We’ve discussed retirement saving at some length. But when we’re young, we have other long-term financial goals too. Where do buying a home and insuring one’s life fit in?
Are there any guideposts as to what you should be doing and what you should be thinking about, at different stages in your financial life? Let’s look at minimum, successful and exceptional standards at five stages.