Retirement planning is often overlooked by many, but it is a crucial process. Especially in the next decade, many second-wave baby boomers are approaching retirement. Most of them are likely to venture into small businesses. This trend is closely related to recent developments.
Many people wait vaguely for ‘that day’ while preparing for retirement. However, unprepared retirement can lead to significant difficulties. Many people find themselves returning to work to make a living after retirement. Therefore, it is important to accumulate assets and prepare in advance before retirement.
The Reality of Self-Employment and Retirement Preparation
In the movie “Parasite,” there is a scene where Song Kang-ho’s character fails while running a Taiwanese castella franchise. This is not far from reality. Many self-employed people face significant difficulties, and the success rate is not high. To avoid such situations, one must accumulate sufficient assets before retirement.
What to Do Before Retirement
1. Focus on Wealth-Building Investments
During your working life, it is important to focus on wealth-building investments. You should maximize your assets before retirement. After securing a home, joining a pension savings fund is a good idea.
2. Liquidate Assets When Nearing Retirement
When approaching retirement, it is necessary to liquidate the accumulated assets. This allows for economic stability and the ability to work leisurely after retirement.
3. Maintain Health and Physical Fitness
Do not think, ‘I am done’ just because you are getting older. On the contrary, you need to fill your life with better things. Managing health and physical fitness is as important as managing assets.
Conclusion
Start preparing for retirement now. Time flies quickly. If you prepare in your 30s and 40s, you can live a happy and financially stable life after retirement. Start with small investments and preparations now. It is the best gift for your future self.
Life after retirement can be stable and happy only for those who prepare in advance. Prepare for the future with wealth-building investments, pension savings funds, asset liquidation, and health management. There are enough reasons to start right now.