What’s the Ideal Retirement Plan?

The COVID-19 pandemic has accelerated the outburst of too many new lifestyles, the economy and employment market has been hit hard and the way for work has also been changed, and early retirement planning has attracted a lot of attention.

Who's considering about retirement? The COVID-19 pandemic has changed the minds and concepts of many people, and more and more young people around are talking about retirement planning.

Is it possible to retire early if you do your money well early? The so-called financial freedom is really your financial ability to cope with retirement. 

So what exactly is pension planning?

In fact, everyone should start planning for retirement ahead of time. Age and compound interest effect.

First, it is important that the watershed age should be set at 55. Because most people traditionally set the retirement age at about 65, compared with 55 to 65 years old is only 10 years old, so after 55 can not be too radical, need to be a little more conservative.

And before the age of 55 can try to move forward, there is a concept called compound interest effect, if we start to slowly save now, although the first few months can not see the difference in money, but the later will be bigger and bigger, so we start our retirement management as soon as possible the better.

In addition to age, another very important factor is the rate of return, which affects market volatility. For example, the stock market recently because of the impact of the epidemic on the order of panic; If the average person does not have professional financial knowledge, they should help you through different financial tools.

There is a financial product called index universal life insurance, which is a new type of insurance investment, is a good choice for retirement planning. You can help you with zero is Hero by the age of 55 through index-based universal life insurance. Now the market performance of a severe recession when do not worry, because the product is not the most is not to calculate interest, will not lose the hard accumulated wealth; Just like flying a newly invented kite, if the wind doesn't blow, the kite stops in place, and the wind comes this kite will get higher and higher over time, which is really a good financial tool for people who don't generally know how to invest.

And index-type universal insurance also has a function called Fixed income, like the current stock market crash, there are insurance companies fixed income is about 4.6%, so even if the market plunges, there is a professional financial professional to help you draw the right plan, your interest rate will not be 0%.

By the age of 55, we may have to take a more conservative path, and an annuity will be a more appropriate product. First of all, we can first calculate our cash flow, if I need 30,000 dollars a year to live, it must find a safe, stable, long-term guarantee of 30,000 dollars a year income, then other property can be divided out to do other investment planning, so that life can be in advance to maintain stability.