As retirees, we need to avoid two big money mistakes commonly made by many retirees during their financial planning for retirement income for life.
No 1: Not adequately factor in year-on-year inflation for retirement income cash flow. Our passive income (e.g. dividend income from stocks) from our investment portfolio is never inflation proof or inflation adjusted. When we need to top up any short fall in our retirement income, we may then commit the bigger No 2 money mistake.
No 2: We are forced to sell assets when the market is slumping to meet shortfall in retirement income. This is definitely a Game killing move!
Uncle8888 is most or less done with his two taps cash flow solution for retirement income for life.
Last updated : 14 Sep 2020
I am 64 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 21 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
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