Enough Money to Retire?

Hi:


Will you have enough money to retire?

This is one of the big issues that most people have. In fact, if people could project the future with a crystal ball things would be so easy!

Unfortunately we can't project twenty years ahead, or even six months ahead about world conditions, inflation rates, currency exchange rates, housing prices, food prices, government policies and the like.

What we do have to work with is our knowledge of what we have at the moment.

Successful financial planning at retirement initially involves knowing your asset base and projected monthly income.

One easy idea to consider (at least in theory) is that you have paid-for accommodation. Even if it is a small place, if all you have to pay are taxes, maintenance, communication and heating costs your yearly expenses can be controlled. If these expenses, food and transportation are about all you need, it is possible to live quite cheaply.

More about lifestyle and accommodation choices tomorrow. Other ways of living, such as in places that are less expensive to maintain will be explored.

M.