Whether you are salaried person, employed by a Government or private entity, a professional, a business person or anyone who have indulged in active pursuit of goals, take care not to fall in to the trap of adventure seeking.
a) Do not take an about turn in your career. If you had been an office goer for the last three decades, it would be necessary for the right combination of luck and hard work to become a successful farmer after you retire.
b) Do not take any aggressive stance on your investment portfolio for reasons such as starting late or mid-way losses. Economic environment may not favour your thoughts and you will not have any time left to recover from the losses.
c) Do not get in to the itch of ‘one last time before I retire’ syndrome, especially in relation to risky options in the areas of investments or adventurous activities.
d) Do not under-estimate your life expectancy. Disciplined way of living clubbed with improvement in health sciences would increase your longevity.
e) Do not give away your wealth and assets to your heirs sooner than necessary.
f) Do not ignore taxes and inflation
g) Do not ignore health insurance. You need it most when you retire if you have not created a separate health care management fund.
h) Do not ignore your exercise or yoga routine. Prevention is better than cure.
i) Do not forget to remember that when you retire you do not work for others. You never retire from what you do for yourself and your love ones.
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