If it appeared on the web in North America, is focused on Financial Independence, and involves a list of ten, we may present that blog or column here. For really good stuff, we may admit lists of 5, 7 and other numbers too!
I’ve personally never travelled to southeast Asia, although my family has and my daughter currently is posted in Hong Kong for a one-year teaching gig. As a result, I was more than usually interested when a review copy came in the mail titled Planet Boomer: Retire now for less in Southeast Asia.
It’s written by a boomer Canadian couple, Jim Herrier and Ellen Ma, who left marketing and advertising positions in 2006 to move to Singapore and Shanghai, then researched a bunch of other locations to help them write the book.
The book is slated for release in mid-August.
Asia 50% more affordable than North America
The pair argue that the financial crisis of 2008-2009 battered the investment portfolios of many Canadian boomers, and that “the math of a comfortable retirement for many of the nearly 10 million Canadians between 44 and 64 is not working anymore.” On average, those boomers are $400,000 short of their ideal retirement savings goal. Most of the 15 destinations in five Southeast Asian countries are at least 50% more affordable than Canada or the United States.Continue Reading…
The Twelve Tables formed the basis for Roman law. The twelve suggestions below form the foundation of a sound financial plan. It should be devised and agreed upon by you and your partner and should result in a secure financial future.
1.) Believe you can succeed
No enterprise, be it financial success or otherwise, can succeed without a belief that it is possible. Much else goes into accomplishing your goals but without a belief you can succeed, they are doomed to failure.
2.) Agree on the definitions of the terms in your financial plan
You and your partner must have the same idea of what wealth, risk, budget and a lot of other terms mean or you will be working at cross purposes.
I’ve been doing lots of reading lately about a new stage of life between MidLife and traditional Retirement. You can read the details in Marc Freedman’s The Big Shift, which confirmed what I’ve been slowly piecing together since my career change this time last year.
The Financial Independence Hub organizes blogs in six categories that are quite similar to the Ages & Stages that MoneySense has long espoused, both in its articles and in its Special Interest Publication, Guide to Retiring Wealthy. You can find these six blog categories in the horizontal grey band that appears below the horizontal blue band at the top of the Hub’s home page.
Ages & Stages: The Life Cycle approach to Investing
Are you dreaming about a financially independent (aka “findependent”) life free of debt?
What do you mean by “Financial Independence?” Before you start working towards achieving “Findependence,” ask yourself: What does this mean to you? Do you dream of a life in which you can spend your time as you want? Does it mean a rich and varied lifestyle you wish to have? In short, you need a vision, depending on which you can plan your action.
Here are seven tips to achieve a financially independent life:
No doubt, investors want to be ready for retirement or what this site calls Financial Independence/Findependence.
The bigger question is whether the Retirement/Findependence plan of action is truly game ready for them.
Investors face a multitude of decisions in mapping their roadway to retirement. Preferably, a roadmap that withstands the tests of time. Especially for those who are at the retirement doorstep. Planning retirement is about setting the long-haul course of action to achieve a specific personal return. The course is more than selecting stocks and funds. Some cases may require a total financial makeover.
Start the process at least 15 to 20 years prior to actual Retirement/Findependence. Longer is desirable. Investors need to find that delicate balance between spending for today and saving enough for tomorrow. At age 60, the plan can easily span 25 to 30 years, possibly more. It’s also likely that few if any savings will be added to the portfolio after retirement begins. The nest egg has to sustain income draws for the lifetimes of two spouses.
At KCM, we have assembled five fundamental steps to improve your game plan readiness prospects: Continue Reading…