Retiring in the next decade or so? Tips and tricks to apply, right now
MYMONEY ONLINE, PERSONAL FINANCE WITH WARREN INGRAM
11 September 2019 11:41 AM
The Money Show’s Bruce Whitfield asked personal finance expert Warren Ingram for tips on what to do if you’re aiming to retire in a decade, or so.
• Check that you are saving enough – you need a minimum of 12 but preferably 20 times your annual salary to retire in comfort at 65.
• Married couples should consider retiring at different times, if possible.
• Ensure you’re not investing too conservatively, or inflation will eat you – you need to have most of your portfolio in shares.
• Increase your home loan repayments.
• Focus on your career – you have a decade to go. In that time, the world of work would’ve changed. Keep your skills honed.