10 Smart Moves for Retirement

Below are 10 smart moves I pick from Fidelity Investment. Although the moves suit to people in America, the fundamental lies below are good moves for consideration. I add some notes that are suitable in Malaysia.

Nor Razi

1. Consider maxing out and catching-up in your 401(k) and IRA
Start saving early and consistently take advantage of savings opportunities.
(Both employer and employee in Malaysia are required to save some portion or percentage of monthly income to EPF [KWSP])

2. Save now for more later
One of the best ways to find the extra cash is to pay off debt and reduce expenses.

3. Make your asset mix match you
Avoid the two biggest mistakes: being overly cautious and taking excessive risks.

4. Stretch your salary
Some work during retirement adds income and can provide benefits.

5. Create your own income stream
A guaranteed income annuity, for example, guarantees lifetime retirement income.

6. Don't withdraw too much too soon
You can plan realistically with Fidelity's Retirement Income Planner.
(You probably can ask from your preferred Certified Financial Planner)

7. Create realistic budget
Paid-up expenses, such as mortgages and other debts, free up more money in later years.

8. Expect and plan the unexpected
For example, don't underestimate your future medical costs.

9. Stay on track
Fidelity's Income Management AccountSM monitors how actual activity compares to a
retirement income plan.
(You probably can ask from your preferred Certified Financial Planner)

10. Mix and match the smartest moves for you
Take action to extend income, control spending, and maximize savings.

Shall you require information about unit trust Syariah Based Fund, email me at: norrazi.publicmutual@gmail.com