MyMoney Online, Personal Finance with Warren Ingram

Retiring in the next decade or so? Tips and tricks to apply, right now

pixabay.com, 2019

The Money Show’s Bruce Whitfield asked personal finance expert Warren Ingram (Galileo Capital) for tips on what to do if you’re aiming to retire in a decade, or so.

  • Check that you are saving enough – you need a minimum of 12 but preferably 20 times your annual salary to retire in comfort at 65.

  • Married couples should consider retiring at different times, if possible.

  • Ensure you’re not investing too conservatively, or inflation will eat you – you need to have most of your portfolio in shares.

  • Increase your home loan repayments.

  • Focus on your career – you have a decade to go. In that time, the world of work would’ve changed. Keep your skills honed.

For more detail, listen to the interview in the audio below.

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