3 things should be done before retirement

Before retirement everyone would draw a beautiful life plan. Whether it has enough money to spend Want to travel anywhere, live a comfortable life. But before getting that way, they had to exchange with a good plan for dreams come true


No one knows their future after retirement. What will life be like? Therefore, preparation or planning is a must. If preparing well Living a retirement life will be happy. There are 3 main things to prepare before reaching retirement age.

1. Prepare the body

In each age range, there will be different lives. Childhood is a learning period. When growing up as a teenager, he is excited enough to enter the working age, must create a position and stability. When the body is used heavily, it will deteriorate naturally.


If talking about retirees, they cannot escape health-related expenses. Because even if you retire with big savings, but have bad health and have to go to the hospital every other month money may be spent on medical treatment.


Therefore, during working age, you must prepare your body to be strong, exercise, eat, and have all the nutritional benefits. And don't forget to check your health regularly, which gives you the opportunity to detect the disease at an early stage. If found, treat early will have fewer expenses than leaving until the body collapses heavily.


For Thai people, currently there are medical benefits or national health insurance benefits. Provided by the government sector through civil servant welfare, social security fund, local employee welfare, the welfare of other government agencies and national health insurance


Therefore, everyone must check their health insurance rights in which group they belong to. Just fill in your birth number on the website of the National Health Security Office. Will know the rights.

2. Prepare your mind

During working age, the atmosphere is full of colleagues. Have a hilarious gathering but when reaching retirement age, there will be many changes at the same time. Most of life is at home, so be prepared to be able to adjust and stay.


There are many ways to prepare your mind, such as meditation, relaxation, and learning about having more free time or feeling lonely, such as finding activities or hobbies. To train the mind to be strong before facing the real thing in retirement.


3. Prepare money

Money is an important element that will lead to a happy life after retirement. Therefore, before retirement day must prepare money first. In order to know how much money will be spent after retirement, ask yourself how many baht you want to spend each month.
 

For example, Mr. A. wants to have 20,000 baht per month (or 240,000 baht per year) and thinks he will live until 85 years old, assuming he is 60 years old, meaning that he will live for another 25 years. Therefore, Mr. A. must prepare the money to use after retirement 6,000,000 baht (240,000 baht x 25 years)



Another way to find out how much money you have after retirement is to estimate expenses. By separating the main expenses as follows

Expenditure

Monthly (Baht)

Yearly (Baht)

Daily expenses

     -food

     - Mobile power

     - Housewares

 

 

Health care costs      

- Doctor fee, medicine fee     

 - Health insurance premiums, life insurance

 

 

Personal expenses

     -clothing

     - Body care products

 

 

Travel expenses     

 - Petrol, transportation costs      

- Car repair

 

 

Other expenses

     -debt

     - Party expenses

     -travel

 

 

Total cost

 

 

            

Then try to enter the amount and include how much each month has to spend. However, it should be reserved in each month as well. Expected to use the money after retirement, 20,000 baht per month will increase to 25,000 baht (or 300,000 baht per year), which means that Mr. A. must collect money before retirement. 7,500,000 baht (300,000 baht x 25 years)


In addition, remember to calculate inflation as it is the value of money. Because the price of goods in the future will increase. If this is the case, when it comes to retirement, the money you make for your monthly expenses may not be enough. Therefore, financial planning must take inflation into account.


Many people may think that the retirement day is still far away and had many years to plan. Now, let's live and spend as much money as possible. At the age of 45, I will think once again how to plan for retirement. But the future is uncertain.


Even if it's not a word late to planning for retirement but if preparing and taking action early will pave the way for a smooth life after retirement.