Yes, I agree, Should view retirement as a new Project or Initiatvie. You must set the objective, plan the actions, exceute them and enjoy the fruits of your efforts

Thank you, much appreciated your advice.

I bought investment funds from banks and insurance companies over the past 10 years, but it resulted in a decrease in the value of my money. Now, I simply put my cash into quarterly time deposits, as it seems much safer and requires less effort

Always wise to go for reputable investment institutions, like multinational banks or insurance companies.

yes, always beware of and be sensitive towards scams; they are everywhere, waiting to steal your hard-earned money from your pocket

strongly recommend establishing a portfolio of recurring income, making sure it does not comprise risky, volatile investment products; after retirement, prudence and risk-averse are two principal approaches toward investment

need to be careful with the terms of coverage, including coverage locations in case you do not live in HK; some policies specifically exclude the US

I would suggest purchasing a medical cover policy to hedge your medical costs

Assuming you do have mortgage payments, the biggest unexpected outflow in your retirement will be medical costs; subsistence living should not cost much; the level of luxuries or higher standards of living depends on your means.

Haha, Carpe diem – latin way of saying the same

Perfectly agree, 活在当下

How can we plan if life is full of uncertianties? You do not know what to expect tomorrow most of the time; just enjoy and live in the “moment” to the full

Also, create a buffer for contingency or unplanned expenditure; the more prudent the provision the better

This is serious, as most of us can live until the nineties; and the potential medical bills could be enormous unless you go for public hospital care which can take months

An Excel cashflow sheets should help; but you must be honest to list down all your obligations and assets, whether income generating or not

Retirement means no recurring income from work. So make sure you have sufficient recurring income to meet ongoing obligations

Retirement means no income from work. What should I do if I want to remain worry-free financial-wise after retirement？