Second Half Life (Retirement & Death) 03 (Mar 14 - Dec 26)

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"Preparation for old age should begin not later than one's teens.

A life which is empty of purpose until 65 will not suddenly become filled on retirement."

- Dwight L. Moody

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Retirement in Singapore: Golden years or down trodden years?

Source: The Independent

http://theindependent.sg/blog/2014/08/0 ... den-years/

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Slow Down

I’ve noticed something really unique since quitting my full-time job in the auto industry to focus on writing.

Life has slowed way down.

And I couldn’t be happier about it.

Source: GuruFocus

http://www.thetradingreport.com/2014/08/13/slow-down/

[winston]

How to Live a Rich Life By Mark Ford

Here's what I'd like you to do:

Figure out how much you need to spend every year to live your own personal version of a "rich" life. It might help to spend a few minutes thinking about all the things you truly enjoyed last year.

If you are like me, you'll find that almost all the things you enjoy require little in the way of money. (Those are the true luxuries.)

Keep the biggest wealth-stealing expenses – like your house, your cars, and entertainment – to a necessary minimum.

And eschew any expenditure that has a brand name attached to it. Brand names are parasites that gobble up wealth.

Don't nod your head and promise to get to it sometime in the future. Do it today.

Estimate as well as you can what you need to spend each year to have the life you want.

This is a number you must have firmly in your mind if you intend to be a serious wealth-builder. This simple system for managing money can work for you if you commit yourself to it.

Source: ETR

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6 Sure Ways to Fail Your Retirement

By Julia Valentine

http://www.selfgrowth.com/articles/6-su ... retirement

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How Much Can You Accomplish?

Behind Paul's question is a common prejudice: that our years for being productive are between 30 and 60. There is no doubt that you can change the world in that middle third of your life. But you can accomplish great things in the last third, too.

To prove the point, here are a few examples of what these well-known people have been able to do in their 60s (or thereabouts):

Harland Sanders, better known as Colonel Sanders, was 65 when he started Kentucky Fried Chicken. As demand for his tasty chicken grew, Sanders opened a restaurant. And the rest, as they say, is history.

Laura Ingalls Wilder was 65 when she began writing her beloved Little House on the Prairie series. She went on to pen eight total books in the series – in addition to being a journalist.

In 1954, at the age of 52, Ray Kroc opened a hamburger stand – when most people his age were retiring. Kroc revolutionized the fast-food business when this hamburger stand eventually became McDonald's.

Car icon and businessman Henry Ford was 60 years old when he created the first car assembly line.

At 70 years old, Golda Meir became the fourth prime minister of Israel – and the first woman to hold the post.

In 2004, at the age of 82, Robert Galvin, retired longtime CEO of Motorola, started Galvin Electricity Initiative, a nonprofit dedicated to transforming and improving the nation's power grid to 21st-century standards.


Consider this: As of 2009, the latest year for which information is available, persons reaching age 65 had an average life expectancy of an additional 18.8 years (20 years for females and 17.3 years for males). That means we sexagenarians have many more years to live well and thrive!

Source: ETR

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The 4% Rule Examined

http://www.thetradingreport.com/2014/09 ... -examined/

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Retirement abroad – how one couple sees the world

http://www.thestar.com.my/Business/Busi ... the-world/

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Four steps to avoid becoming a burden to your children

BY AMELIA HONG

WHEN we were young, people were very careful with their money. Frugality was the order of the day as all available resources was channelled towards just surviving.\

Today, our First World problems sound like this: “Should I get the iPhone 5s or wait for the iPhone 6? Such a dilemma!”

I do think that our modern-day living poses a serious threat to our finances. If we do not do something, we may be heading for a personal financial crisis.

Here are four reasons why:

1. LIVING IN EXCESS

Perhaps it is a rejection of our parents’ frugality that we have the need for many things. We are likely to have more than one holiday a year, many expired goods in our pantry, 10 pairs of shoes and a fancier car than our parents.

2. NO FEAR FOR THE FUTURE

We grew up in a time of plenty with no real threat of war. So there is no need to have "storage" for future calamity. This abundance mentality has allowed people to throw caution to the wind and be totally comfortable spending every sen they have or even what they don’t have.

3. A RELIANCE ON OTHER'S RESOURCES

There is the safety net of FAMA (father, mother) who will rescue their distressed adult children. How long can FAMA sustain us before their lack of funds become our problem? Also, while EPF is a good retirement vehicle, perhaps it may not be enough to fund your cost of living over the long haul.

4. PRESENT WANTS OVER FUTURE NEEDS

In the 1950s, the lifespan was only a few months after retiring at 55. Now, people are living two decades longer but have not realised the implication of this. They are "enjoying" themselves too much rather than thinking about the future.


If we don ’t correct these four grave financial mistakes, the persons we are today will grow old to become poor tomorrow, dependent and a burden to our children and society. It won’t be anyone’s fault but ours.

Let us plan for the future, so that we will not be woefully unprepared for it.

Source: The Star

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Learn How To ‘Hack’ Your Retirement Savings

By Emma Miller

Source: Learnvest

http://www.thetradingreport.com/2014/10 ... ment-plan/