Plan your retirement

[adenip]

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IF you have experienced taking care of your parents who have advanced in age, or know someone that does, you would agree that it's no joke.

I am taking care of my mom and dad since they retire and their medical bills are too much, the cost of adult diapers can stack up and - shoot me for being too realistic - often slowly take away my love for my parents, day by day.
What remains is the burden of caring for the old ones. But I am always there for them.
and my love for them is so huge that even mother earth will not fit in.

Most Filipinos' idea of retiring and growing old is for their kids to "pay back" their kindness as a parent by taking care of them when they grow old. "That is if your a kind to them." Do you seriously want to be a dead weight on your children's necks when you aged?

Say this out loud with me: I will do everything so I will never be a burden to my family when I grow old! Careful financial planning, preferably starting the day you got your first job will ensure that your children will love you when you grow old.

This are some steps to make sure that your children will not fight over the responsibility on who will take care of you later on.  They start with a commitment to plan your financial future and discipline. Glad to say I don't have to fight with anybody, cause I am the one and only.

Financial planning need not be uninteresting. It is only boring when you are talking with advisors who wants to make it sound complicated so you would continue to get his services.

Financial planning is simply finding out where you stand financially right now, where you want to go, and coming up with a plan to go from here to there! Simple. But remember you have to beat inflation, minimize taxes, prepare your emergency fund and having a retirement fund.

At the end of the day, developing the plan is one thing, sticking to it is another. Once you have created your blueprint, its up to you to make your plan work. Don't procrastinate.

[Ping]

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Very well said.   

This is one fact in life we can not ignore - ageing!  And the burden that comes with it.  My mother lives with us (or it is the other way around?    )   She is now in need of medical attention, and boy, I can relate to you sir adenip, it's no joke.   But I was raised with an abundance of love, and more love is what I am willing to give.   

At any rate, I guess, together, we can help each other plan and do what we can, while we still can!   Setting aside some savings for our future doesn't seem to suffice anymore.  We need a Plan B, and we need it now.

Thank you for dropping by our forum, adenip, and I am sure, there's a lot that we can learn from you, and from each other here.



 

[adenip]

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thanks sir ping, i put it under banking and finance, i think it's better if under insurance or something else