Read? Retirement Income for Life???
Reaching Financial Feedom???
Do we consider ourselves reaching financial freedom when passive income from investment exceeds expenses?
That is the conventional wisdom of defining FF. But, it doesn't factor inflationary rate and it assumes the market is favourable to long-term investors over market cycles. The truth, the market is never favourable to any class of investors no matters how smart the investors are. Google for yourself the failure of Ivy League Endowment Fund especially the famous Yale Endowment Model. One research paper's?conclusion shows that they reflect failure of endowment managers to properly diversify and plan for extreme events. Endowments must model and prepare for extreme events, evaluate whether the classification of their assets genuinely reflects true diversification, and perhaps most importantly, appropriate a much larger portion of their portfolios to cash and other liquid assets.
So far, Uncle8888 has reading more and more books in NLBs relating to Retirement planning and mental health especially on Dementia. It is damn bloody scary!!!
Till now Uncle8888 still consider this one as the better model for his retirement planning.
Combining Maslow's Hierarchy of Needs & Retirement Income for Life
The Money Levels for Retirement Life:
Strengthening?this model further ....
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Most of us are seriously worry of not having enough for safety money for prolong illness and end-of-life medical costs.
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What is so good about this model?
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When we are seriously sick, we should be spending much lesser on Freedom Money. This saving in Freedom Money could then flow downwards to support the increase spending in Safety Money.
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Anyone doing your retirement planning, what do you think?
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Source: http://createwealth8888.blogspot.com/2012/10/retirement-income-for-life-2_27.html
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