There are two components to retirement income planning: Personal Planning and Financial Planning. Personal planning is important because it is the determining factor of your satisfaction with your retirement lifestyle. Financial planning is crucial because it identifies your sources of income and expenses and establishes your retirement budget, based on your personal plan. Personal Planning All too often people entering retirement do not place eno...
Wondering whether you should save or invest? The answer depends on your goals and your financial situation. This guide will help you work out how to go about building up your savings and the best way to invest money. It also covers the basics of planning out your finances for short term savings and long term investment. What’s the difference between saving and investing? Saving - is putting money aside, bit by bit. You usually save up to pay for so
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