Disturbing Ideas

by: Pauline Uchi, Licensed Financial Consultant

Just sharing with you this simple concept. There are two major money problems in life. Dying too soon and Living too long. If we die too soon, what would happen to our loved ones who are dependent on us? Have you ever thought how uncomfortable they would be without your income? Can you imagine not having the ability to provide for your family because of a disability? Not only do you suffer, but you watch your family suffer and be unable to do anything about it. Another way of not being able to provide is what we call living death. All the money that we have worked for will be depleted just to spend for medical needs such as treatment, chemotherapy and cost of medicines should critical illness strike and our income earning capabilities are impaired.
 
Now, what about living too long? If we live 20-25 years after our retirement, do we have enough money to sustain our daily needs?
 
You will be surprised to know that 8 out of 10 people ENDURE retirement instead of enjoying them as they are dependent on their children for financial support? It is said that retirement is the longest holiday of our lives and the most dependable person at that time is ourselves.
 
Wouldn't it be better to start planning now so that we can enjoy the financial freedom that we deserve?   
 
Let's determine how much is enough. I've attached a table for easy computation. Should you need any help, please let me know. Thanks and God bless you!