Is your retirement planning on the right track?

You love your little luxuries and your extravagances equally. You believe money is meant for spending and you thrive on spontaneity! However, it’s best to gain solid financial footing before you take the concept of #yolo too seriously.

Your focus:
Take a risk. Opt for a solid retirement fund that yields a higher interest. Separate your ‘wants’ and your ‘needs’. Your secret weapon might just be saying ‘NO’. Strategy is king. Don’t enter the battlefield unarmed. Prepare a strategy so that you have clearer idea of where you want to be financially in 10-15 years.

You love a good deal! From bargain-hunting to comparing prices, saving yourself some moolah is your strong suit and this will definitely help you through your retirement. However, when it comes to saving, you should focus on making sure you choose the best and the most tailored retirement plan.

Your focus:
Be savvy with your savings. Prioritise your financial obligations so that you’re saving efficiently. Man up. Don’t only pursue low-risk, low-return investments. This might not benefit you in the long run. Do a little digging around. Brush up on your asset allocation principles, these are fundamental to retirement investing.

You’re completely risk-averse. Your No.1 concern is security! You prefer proven, safe investments and like to research and plan prior to making those big purchases. However, you have tendency to forgo investment opportunities due to risk concerns.

Your focus:
Congrats, you’ve got your planning down. Now redefine your retirement goals to suit your needs. Do the math! Calculate your estimated retirement needs and prepare a strategy. Keep monitoring. Check on your retirement plan regularly and make changes according to your needs or appetite for risk.

You aren’t great with money, and might have trusted recommendations too readily. Take ownership of your future by securing professional advice as soon as possible!

Your focus:
Future comes first. Embrace retirement products that fits your future! Slow down on risky investments. You could miss out on the payoffs if you do, but at least you won’t whittle away your nest egg.