Maintaining your lifestyle after retirement
The new generations of Hong Kong people enjoy stronger spending power than their parents and grandparents so their concept of retirement is also very different. In the past, retirement meant staying at home idle but today people see retirement as a new chapter in life; a time to leave the workplace and enter a realm of pleasure and freedom. In retirement, people are empowered to try things that they have missed while they were spending their time working - from taking time to go fine dining or head out on a sightseeing tour, It can also be a time for developing new interests like painting, cooking, wine tasting, appreciation of art and opera etc.
This kind of wonderful retirement lifestyle is made possible by the extra time, but also by financial freedom. These two essential conditions enable you to further explore and develop different dimensions of interest and to open up a new social life.
The point is you need to have the wealth to support such a lifestyle. Start planning as soon as possible because you cannot rely on savings alone to achieve this retirement goal. Inflation eats into your saving and erodes your purchasing power. Since the 2008 financial crisis, the world has been facing soaring inflation1. Do think and act immediately to plan for a comprehensive and robust retirement because that financial freedom will become synonymous with happiness. Prudential has a brand new platform – the "What is Your Retirement Number?" Calculator – to help you with detailed analysis and estimates.
1"Global Inflation Development and Its Impacts - The World has to face soaring inflation", HKTDC, 2011-03-11
Source: King Content Pty Ltd.
Prudential Hong Kong Limited (A member of Prudential plc group)
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