HOW TO RETIRE RICH

Posted by Master
January 9, 2008

Some people reduce their spending after realizing that they are going to live longer than expected and that they have spent a lot of money earlier (in life). The former president of Boeing retired 20 years ago and still enjoys the good life. He also has a lot of free advices to give to people.

In a recent CNN interview he gave tips on how to continue enjoying life after retirement:

  1. Don’t encash on your social security benefits immediately. By taking the money after full retirement or later, you’ll get a bigger amount.
  2. Put some of your retirement money in immediate annuity. With that scheme, your money actually goes up with inflation.
  3. Early in life, determine how much one should save for retirement. For him, at was 10% of his salary.
  4. Be ready for a lot of unforeseen expenses. It may be the medical & dental expenses which will  no longer be covered by any HMO,financial aid to parents, grand kids, etc..

For more of his free advices, visit www.analyzenow.com

Career, Uncategorized, retirement
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