When is the right time to Retire?
Retirement age in the Philippines happens mostly at age 65. Probably because we can still work at age 60 or the fact that, most of the Filipinos weren't prepared for the retirement age to arrive so we still have to work longer at an older age.
We can actually retire at an earlier age if we have started planning for it a little earlier as well. But in our culture, it doesn't really work that way. Why? Because that's how most of us were raised. Financial Literacy is not even taught in school. You have to learn it by yourself. Its either you learn t from others by researching for it, or learn it the hard way by experiencing it. The first one is better because you can start planning for your retirement as soon as you knew about it. But learning it the hard way is the saddest. What if you just realized that you have to learn planning for your retirement only a year or two prior to your retirement age? What will happen next? This is next to impossible. You won't have enough time to grow your money anymore and before you know it, its retirement age already. Where yo cant actually work the way you used to and you are not earning enough as much as you did when you were younger.
90% of the Filipinos die without anything left for their families, not even an amount for the family to buy him his coffin. And most of the time whats left for the family is debt. One major reason of poverty. Lost of someone who provides income for the family. 54% of Filipinos who reached retirement age depends on their kids to survive because they never planned for it.
To give you a clearer view about retirement please watch this video and comment how do you feel about this. If you have already started planning for your retirement, then that's good for you. You can share your ways on preparing for it so others will know and let us minimize poverty n the next generation...
"Life Insurance cannot prevent your death,
It prevents your plans from dying with you."
This is Lorinda "Lori" De Guzman, a Financial Advisor with Sun Life.
I educate and assist people in saving and investing for their future and
help them achieve their financial goals towards financial freedom
0917 592 9245
BBM 2A1AD469
Sun Life Financial Philippines
Bamboo NBO
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