Helping parents retirement is not much different from preparing for your own retirement. When you are saving and investing for retirement face, important questions you should think about is: what kind of lifestyle I want when I retire? How long a period of time that I choose to save or invest?
If you have children, you must race to save for education expenses Child health fund once your parents when they really are not able to work anymore. Life expectancy is getting longer also noteworthy. There are some mistakes you need to avoid so that your parents can do a 'landing' to smooth:
Error 1:
Have no financial plan for retirement. This fact is very important. Like a map, with the financial plan will allow your parents to determine next steps.
Error 2:
Do not have the worst possible scenario for. We think that our parents will always be healthy and age not too long, for example, not more than 80 years. However, your parents still have to have a financial plan for the cost of his health before dying.
Error 3:
Not thinking about investing. Your parents think that the save or save money is more important than the investment. For certain cases this is true, especially when the purpose is to minimize the risk of losing money due to investment. You could suggest that they invest by combining cash, bonds, and stocks. In addition to not 'eaten away' by inflation, can also increase their assets.
Error 4:
Forget that there are other things besides just living. When you help parents to prepare for retirement, not only clothing-board-to think about food. Welfare also includes spiritual health, which can be obtained from fun activities like traveling, watching the show, doing hobbies, and others. Make sure when entering retirement, your parents have prepared the cost of having fun for the rest of their lives.(http://www.lintas.me)
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