Regardless of the amount of pension, those who are about to retire or those who have already retired must plan how to spend it well, and make preparations in advance so as not to fall into the risk of improper asset allocation.
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Previously, there was a foreign article that quoted David Blanchett, retired research director of PGIM Investment Management Company, as saying that investments that have not been retired for a long time are the most vulnerable to market shocks. Therefore, he concluded that "2022, when the financial market plummets, is a dangerous retirement year."
Of course, when the financial market plummets only at the time of retirement, some retirees still have choices, while others have no choice. But no matter what, I personally suggest that people who are preparing to retire can think from the following perspectives:
First of all, it is necessary to check whether the pension you have prepared is sufficient for your retirement life? People who are preparing to retire have to think: Is there a way to delay retirement? Assume that the parties are limited by the general environment and have to retire when they reach their age. Then, it is necessary to find another way to "open source" and "reduce expenditure" so that the retirement plan will not be disturbed in any way.
For example, you can find a part-time job, find a way to "realize (turn into cash)" your personal hobbies; or you may have your own house, and you can also "squeeze out" some retirement funds through "housing for the aged". Or you can postpone retirement, work for a few more years, and save a little more pension; if you can't postpone retirement, you can only "reduce expenses".
As for the method of "saving money", you can start with people, things, and things that cost a lot on weekdays, such as luxury cars that cost a lot of money, or the habit of socializing with friends and rushing to pay bills. Get rid of it; rent out the house in the city to obtain rental income, and move to the countryside where the cost of living is cheaper. It is especially important: if there is a bad debt, it must be paid off first.
Secondly, as long as the living expenses are prepared for 3 to 5 years, the rest of the funds can still be invested.
In fact, the so-called "inadequate pension preparation" may not be as serious or unsolvable as the parties think. Because, even if you want to retire now, you don't necessarily have to realize all your investment assets immediately. In particular, the cost of long-term care for the elderly is usually not incurred when people just retire. Therefore, the living expenses in the first few years before retirement can first rely on labor insurance + labor retirement injection (especially labor insurance has a bankruptcy crisis, so it must not be relied on for a long time), and then accumulate assets through long-term investment to meet the needs of long-term care in the future use.
Although facing retirement, it does not mean that all investment assets must be "realized" immediately, but: an emergency reserve fund for living expenses of about 1 to 3 years must be maintained at hand. In addition, the rest of the cash should be used for investment, and the proportion of holdings must be greater than that of fixed-income assets.
As for the actual "retirement", the above ratio should be adjusted. So, how much should this "emergency reserve" be set aside? And what kind of asset target should it be stored in? Experts believe that the emergency reserve fund after retirement is basically "enough to pay for 3 to 5 years of living expenses", and depends on "the degree of personal security", and is related to the financial status of the individual's actual investment, as well as the relationship between risks and rewards . Of course, for the above 3 to 5 years, it depends on whether the parties have other cash flows (such as labor insurance or retirement)?
And this money is best placed in cash (because liquidity and value will not be lost, so deposits or currency funds are the main ones. Government bonds or investment-grade bonds that still have a risk of falling in price before the bond matures may not necessarily be suitable. .As for the 6-year savings insurance, because there is no liquidity at all during the period, it is not recommended to hold it). However, assuming that the financial resources are still sufficient, and those who cannot tolerate any loss of living expenses after retirement, they can consider buying annuity insurance for "guarantee". Although its investment return is not high, it can at least allow the insured to "have a bite to eat".
Furthermore, you can still invest after retirement, but you can't "short-term and demand excessive returns." If the public only wants to use super high rates of return to make up for the lack of pensions, it may be "counterproductive." Because of this, you just expose yourself to greater risks in the market. Therefore, if you have plans to retire, you should make preparations in advance before the retirement time approaches, such as placing the previously prepared living expenses or assets on assets with low volatility. Moreover, it is necessary to "conduct a wealth physical examination (or career simulation) every year." There are two key points:
First of all, according to the current conditions and various estimates, how long can the existing assets support the retirement life? Are the prepared assets in the "safe water mark"?
Second, carry out asset allocation. Originally belonging to the active asset portfolio, it should be transferred to a conservative portfolio.
Furthermore, it is also necessary to check whether the existing insurance coverage is sufficient?
The "asset allocation" mentioned above refers to the allocation of stock and debt ratios. Assuming that people want to retire at the age of 60, and start to adjust the stock-to-debt ratio at the age of 55, in theory, even if the stock market plummets at the age of retirement, the retirees will not face big losses that make it difficult to retire. In a nutshell: When you plan your retirement on a disciplined basis, that is, reduce your stock holdings in the years leading up to retirement. In this way, the risk of price fluctuations of investors' overall assets can be reduced.
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