A few quick thoughts. 1. Don't obsess over the specific instruments, they are just the nuts and bolts. Keep them as simple and uncluttered as possible. 2. Work your way through your planning based on the following prioritization - financial independence for life, followed by financial freedom to do what you like to do, followed by estate planning to leave a hassle-free estate 3. On a spectrum of "cheque to the undertaker bounces" to "live poor die rich", figure out where you are philosophically, and let your plan reflect that
The rest is detail. -----Original Message----- From: silklist [mailto:silklist-bounces+shyam.sunder=peakalpha....@lists.hserus.net] On Behalf Of skn Sent: 30 September 2014 09:12 To: silklist@lists.hserus.net Subject: [silk] Financial planning Hi all, All this talk about retirement and how closely coupled it is with financial freedom got me thinking (more) about financial planning. I was wondering how my fellow Silkers (is that how we are collectively called?) have been (or have already) preparing for financial independence in the later years? What are the good financial principles to live by? Some of the things I have been trying to get my head around are about property as an investment, (long term) investing in company shares vs. index funds vs. mutual funds, % income to save vs. how much to invest vs. how much that can be spent (given I have very young kids) etc. etc. Any insights, life lessons? -skn- ------------------------ Powered by BigRock.com
