How to Enjoy a Stress-Free Retirement

Unfortunately, it is stated that the Philippines has one of the worst retirement systems in the world. Government and corporate pension programs fall short of meeting your post-employment financial demands. Planning for retirement effectively actually rests with the employee.

There are some strategies to make retirement planning a little less difficult. You need a plan to keep things moving toward your financial planning objectives for retirement because making wise financial decisions now can have a significant payback in your golden years. Look at some of the most helpful tips to enjoy a stress-free retirement in the Philippines.

Take care of your health right away

One of the most important aspects of having a successful life is being healthy. You should start taking good care of yourself now if you want to live well in your retirement years. It’s time to make maintaining a healthy lifestyle and getting regular checkups more seriously. As they say, prevention is preferable to treatment. There is no justification for skipping regular checkups and preventive tests, even if you now feel healthy. Developing good habits like exercising, eating healthily, and getting enough sleep will also be great because they can affect both your physical and emotional wellness.

Develop a hobby

The ideal time to acquire a pastime or return to your favorite hobbies is during your pre-retirement years. Having hobbies is beneficial for health. You can engage in an activity that can help you relax and stay intellectually active even after you stop working if you create one before retiring.
Additionally, hobbies can improve your health and lower your risk of developing high blood pressure. Even dementia and depression are prevented.

Pay off your debts

You should pay off your debts even if you desire to save more money before you retire. To have fewer financial commitments throughout your retirement years, it is preferable to pay them off. If paying off debts is proving tough for you, start with the lowest loans. One loan at a time crossing them off your list gives you a sense of success. It may also inspire you to keep paying off smaller debts until the larger one is completely paid off.

Set up a fund for the future

Even after you retire, you’ll need a sizable sum of money to live the life you want. If your retirement money and government benefits can fully cover it, you’ll be in a very fortunate position.
Experts estimate that 80% of your final pre-retirement income will be required to cover your retirement expenses. If your annual income is presently Php 400,000, you will need at least Php 320,000 to live comfortably during your retirement years.

One incentive to start building your fund early for the long term is to provide yourself with a longer time frame in which to expand it.

Investment tip: The longer you can experiment with financial tools like mutual funds, the stock market, and other securities, the better your chances are of creating the retirement fund you’ll need.

Investigate your choices for generating income

Investigate your alternatives for increasing your retirement money. If you can optimize your earning potential right away, you’ll be in a better position. In addition to starting a business or working a side job, this can be achieved with the help of financial tools like life insurance.

Consider obtaining financial counsel from a specialist

You can make some decisions regarding retirement planning more effectively if you seek professional guidance. Your status can be evaluated by a financial counselor, who can also assist you in creating a plan based on your objectives and financial worries.

Invest for your future retirement today with Cocolife Asset Management!

People often claim that whereas the smart person makes money work for them, the common person works for money. Once you have a sizeable sum saved, research how investing it can help increase its value.

You can make your retirement years as enjoyable and comfortable as you had hoped for. Don’t procrastinate on retirement preparation for too long. Retirement without worry is conceivable. However, you must first take the necessary action to materialize the kind of comfortable retirement you are aiming for.

About Cocolife Asset Management

Cocolife Asset Management Company, Inc. (CAMCI) is a wholly owned subsidiary of Cocolife.
We have been in the industry since 2003, as an investment adviser and main distributor of mutual funds such as United Fund, Inc., Cocolife Fixed Income Fund, Inc., and Cocolife Dollar Fund Builder, Inc.

For our outstanding returns performance throughout the years, our Funds have garnered recognition and honors from both international and local award-giving bodies, including Thomson Reuters Lipper Fund and Philippine Investment Funds Association (PIFA).

Read more about our company here!