[LW8]

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

[Francis]

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

[SHk]

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

[Windy]

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

[Francis]

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

[Thomas]

Perfectly agree, 活在当下

[L]

Haha, Carpe diem – latin way of saying the same

[Yvonne]

can pick up new hobbies; volunteer in NGOs, and learn new skills or knowledge; most HK universities have curriculum of courses taught for retirees

[Cheuk Hei]

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.

[Koala]

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

[Fredie]

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

[Coffee]

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

[wwjoehk64]

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

[Ivan]

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

[Windy]

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

[lipton]

Thank you, much appreciated your advice.

[Beto]

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