In the following video Mark Tilbury talks about how he was able to retire in 7 years. (But it isn’t easy). He explains that the word “retirement” should be replaced with the word, “freedom”. Once you reach the “tipping point” when you have enough money to stop working you have true freedom. But that doesn’t mean the you have to stop working. It simply means that you can work on the things you truly enjoy.
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Adventures don’t have to end with retirement. In fact, your golden years can bring many new and exciting experiences, especially if you choose to spend them abroad. From lower costs of living to a refreshing change of scenery, retiring to an overseas destination offers plenty of benefits.
However, it can be tricky to navigate through visa applications, taxes, language barriers, and cultural differences. Plus, without the comfort of familiar faces, adjusting to a new lifestyle can be challenging.Nevertheless, with careful planning, retiring abroad can be a sensational adventure. If you are set on making the big move, here are some tips to help you get started.
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Are you looking forward to retirement? If so, then you should be thinking about how you’ll get there. With wise investments, you could retire sooner than you think. Besides, the sooner you start, the faster you’ll get there. Always research your investments before pulling the trigger, though. That way, you’ll have everything you need to make an informed decision.
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Forty years ago International Living Magazine began popularizing the advantages of a bargain retirement overseas. They began promoting the idea that. since many foreign countries have a much lower cost of living it is possible to enjoy a better style of living even on just your Social Security.
Every January International Living (IL) generates a ranking of the top countries in the world to retire based on a variety of factors not just cost. After all, there are some very cheap places around the world, but you may not want to live there.
In their 2021 Country Index IL ranked Malaysia as #7 behind Costa Rica, Panama, and Mexico. The rankings are from 0-100 with 100 being a perfect score. As you might expect Malaysia ranked very well on Cost of Living receiving a 91%. So it certainly qualifies as a bargain retirement overseas.
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Everyone dreams of a comfortable retirement. Often we can’t wait to reach that moment and finally transform our lives into one long vacation. Unfortunately, saving money for that day can be a constant struggle. No matter how much you earn, there are always alternatives to saving for retirement. The most common financial worry among retirees is outliving their savings. To avoid that possibility, it’s necessary to work on a financial strategy for retirement to ease your mind. Finding ways to earn more money and make the best of what you already have will boost your retirement savings and help you sleep better at night.
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Many people want to know exactly how much money they need to retire with. More important than an exact amount is knowing the right actions to take when financially planning for retirement. The average retirement period varies from 20 to 40 years, and you may have even less time to prepare. Here are 3 suggestions to plan for your financial future.
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One of the perks of retirement is no longer having to work. But that’s also one of the drawbacks because it often means living on a fixed income. Some bills, like electricity and insurance, are only going to keep going up despite your retirement. That doesn’t mean you can’t save money, though. Your mortgage is one area where you can have a more affordable payment each month.
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For seniors and retirees, it’s likely you’ve been saving up money for most of your life. Perhaps you set aside money from each paycheck either in an employment-sponsored 401(k), stock options, or one of many different types of individual retirement accounts (IRAs). While you might have been saving for the better part of your life, you don’t want to stop once retirement age comes. Unexpected medical costs, increased taxes, natural disasters, and more can cause a financial burden with little to no preparation time.
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While it’s not something most people want to think about, it’s always a wise strategy to consider what would happen if you were to pass away at some point in the future. It may be uncomfortable, but it must be done to help protect your family if such a thing were to happen when you don’t expect it. One way you can protect your family is by setting up a trust for your children. That way, your assets can be preserved for them. However, there are different kinds of trusts you should be aware of.
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It is an unfortunate fact that navigating the probate process can be very complex, and many people don’t know how to handle a loved one’s estate after they pass away. Luckily, with a little bit of research and some professional legal help, you should be able to quickly overcome those challenges so that you can move on with your life.
Navigating Estate Planning and Probate Law Read More »
As a retiree, you should have been saving for most of your life, but now you have to decide how to allocate your money so it will serve you best. Hopefully, you set aside money from each paycheck either in an employment-sponsored 401(k), stock options, or one of many different types of individual retirement accounts (IRAs). While you might have been saving for the better part of your life, you can’t stop money management once retirement age comes. Unsuspected medical costs, increased taxes, natural disasters, and more can cause a financial burden with little to no preparation time. So you need to plan wisely.
But as retirement time rolls around you might need to make some adjustments to your investment allocations. With some wise investment, you can even be living a more comfortable life as a retiree. Here are some investment options that seniors should consider.
Essential Investment Considerations for Seniors Read More »
You can’t simply leave your financial security up to chance. Throughout most of your life, your goal was to earn enough money to support your family and put a little aside for retirement. But once you have retired, you must have enough savings and pensions to support yourself when you no longer have a monthly salary to depend on to cover your living expenses. Investing a portion of your savings is one way to make your money work without breaking your back. When you’re investing during your retirement years, you need to be more careful and conservative because you no longer have time to recover from significant losses. Here are some tips you should remember during retirement.
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