Tips and Tricks for retirement planning

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midnightcaller

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I'm starting this thread for people to provide tips and tricks for retirement planning.

This is not intended to replace the need for a financial planner.

If you are nearing retirement or in retirement, please share your insights and experiences.

Thanks,
 
Start putting extra into the retirement fund from the 1st salary payment day and increase yearly and hit all debt with as much as possible...
 
1. Budget properly, pay yourself first
2. Live in debit unless you have the self control to use a credit card properly
3. Define a reasonable asset allocation for your risk level
4. Invest well, low cost and index based for equity
5. Start as soon as possible, like right now if you haven't already

You can DIY it all, just try to learn as much as you can. Read, read, read. There's more than enough info out there.
 
How do you calculate the 27.5% toward retirement? Is it based on CTC? That is, your entire package before any deductions?
 
MickeyD said:
Tip #2: Debt: on retirement day you must have NO debt at all.
Click to expand...

True for debt for HP, accounts etc, but if you have debt like a bond on a rental property, that a tenant is paying off, and you can claim tax relief on the interest, I am OK with that.
 
MickeyD said:
Definitely not.That lump sum and monthly pension must last a long time.
Click to expand...

Medical aid considerations from that day?

What do you wish you had done differently before,? having lived as a retiree for a decent period now.
 
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