Retirement age is a long-awaited stage in life that can give rise to many fears. Will I have enough money to live? Will I know what to do in my free time? If you have these kinds of doubts, it can help you to know that you are not alone. Fisher Investments Italia has prepared a guide for investors with assets over € 350,000, with 77 tips that could help you enjoy the retirement period you’ve dreamed of without any problems.
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Your financial stability may be your primary concern. If you are still working, save as much as possible now; it is easier to live below your cash while still collecting a salary than when you are living on investment income. Cut your costs, not your lifestyle. You can let your money work for you, but keep your savings from fading into cash, use them in a productive investment such as stocks or bonds. It diversifies, but not excessively.
It is also important to predict how much money you will need at theretirement age. You need to think about the income that your wallet can generate, prepare a monthly budget that takes into account the discretionary expenses and be aware that you may live longer than you have imagined. Life expectancy in Italy in 1960 was around 69 years, and by 2018 it had risen to 83 years old.
When you calculate your net worth, you include all of your assets. A picture of your total assets can help you develop the right strategy for your situation.
When making financial decisions, it helps to be joined by someone you trust, be it a professional or simply someone who knows about finance, who knows you well and who you feel you can trust. Investing without anyone’s help can be difficult, and not understanding or choosing the wrong option can cost you dearly, in many ways, leading to outcomes you’ve never considered.
When you choose someone, look at their expertise, experience and education, their investment strategy, how they decide asset allocations for customers, the structure of its business and the remuneration provided for the respective levels of services.
It also helps to have a tax advisor, experienced and in whom you trust, especially during the transition phase from the world of work to that of retirement. A good idea is to organize a group meeting between all of their advisors, including accountants, investment managers and lawyers, so that they can get to know each other and work in synergy. You should also schedule regular meetings, once a year or whenever there is a change in your life.
Your worries may be associated with how you spend all your free time. Fisher Investments Italia recommends that you structure your days, have a plan and adhere to it. Exercise and a balanced diet are also recommended. You can take a few classes, and do something you never had time for. Take the opportunity to do motivational activities and tasks that require mental commitment. This is a good time to do everything you’ve been putting off for years – enjoy it!
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Fisher Investments Italia is the commercial name used by the branch of Fisher Investments Ireland Limited operating in Italy (“Fisher Investments Italia”). Fisher Investments Italia is registered with No. 182 in the “List of Investment Firms authorized in other EU countries with branches in Italy”, held by the National Commission for Companies and the Stock Exchange (“Consob”), and in the Register of Companies of Parma (registration number and tax code: 97838750152; VAT number: 02903080345; REA number: PR-276048).
This document contains the general views of Fisher Investments Italy and Fisher Investments Europe and should not be considered as personalized investment or tax advice, nor as a reflection of client performance. There is no guarantee that Fisher Investments Italy or Fisher Investments Europe will maintain these views, which may change at any time based on new information, analysis or reconsideration. Nothing herein is to be understood as a recommendation or forecast of market conditions.
On the contrary, it is to be understood as the illustration of a thesis. Current and future market conditions may differ in many ways from those illustrated here. In addition, no guarantees are made as to the accuracy of the assumptions made in the examples herein.
Investing in the financial markets involves the risk of loss and it is not possible to guarantee full or partial repayment of the capital invested. Past performance is not a guarantee or a reliable indicator of future performance. The value of investments and their returns are subject to fluctuations in world financial markets and international exchange rates.
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