Life after Retirement?

Time really flies, in a couple of years I will be retiring from current employer. I was avoiding the course on “Preparing for Retirement” for quite sometime despite good recommendation from many friends. Last week I changed my mind and attended the program at Melaka Holiday Inn with twenty others. Interestingly it turned out to be an enjoyable and very informative program and worth the money paid by my company.

There were so many things that I took for granted and neglected so far but finally became a priority to me and fellow participants. Some of the things that I have been practicing for quite a few years now are being reaffirmed as positive moves in preparation for retirement. The program was made very interesting by the principal trainer Syed Abd Aziz who used not only his knowledge but lifetime experience to drive in the points and reality of life.

I have never trust an insurance man nor unit trust sellers and the trainers reaffirmed my instinct that you need to avoid getting into the trap of these two salespersons. We need to understand how the two system works fully before committing to it, otherwise we will become the casualty of the system. I keep most of my hard earned savings in the ASN, ASP and ASB (fixed investment) and surprisingly the trainer who is master sellers in insurance and unit trust did the same thing with his savings.

Some of the learning objectives covered in the course are:

1. To take steps to appreciate phases of life retirees will go through upon retirement.
2. To take steps to be mentally, physically and emotionally prepared during these transition phases.
3. To explain step on how to make investment decisions and evaluate opportunities.
4. To identify wealth protection measures.
5. To identify opportunities where retirees can serve the society and nation.
6. To explore select areas of interest.
7. To develop a network and support group.

In the nut cell the programs covers: Preparation of Retirement, Financial Planning, Investment, Protection and Estate Planning, Entrepreneurship, Healthy Aging, Volunteerism, Hobbies and Leisure.

As the result from the program I am now changing my paradigm from dependence to independence, breaking away from the employee mentality to entrepreneurship. I am working towards replacing my existing perks and incentives with new suitable alternative choices such as:

1. My own medical and insurance program.
2. Program to protect my capital.
3. Choosing suitable investment vehicle to transport my wealth through final life phase.
4. Preparing myself with spiritual, emotional, intellectual and physical stability to wage through the independence paradigm.

As for my investment direction it will be heavy on fixed instrument instead of equity based investment. There will be about 25% exposure on strategic properties to spread out my basket of investment, while knowledge and experience will be used heavily on business and entrepreneurship ventures. The knowledge, experience and network will be used to offset financial commitment in business ventures and hopefully it will minimize my financial risk.

I have to write a will now to ensure that whatever I have will be properly administered and distributed among my wife and children when I am not around. The last thing that I want will be for them to quarrel over my little properties and to ensue they will have a better future even without me.

I have set my new mission to be the role model to my family and society in wealth creations and sharing. To achieve balance life in spiritual, health and wealth. My KPIs have gone beyond me; it will be based on the performance and success of my children and people around me. It will be based on how much I give back to the people and universe.