#2: Be your own “pension fund” manager.
Independence is the real goal of retirement. That means listening to experts, but also learning to make savvy financial decisions for yourself.
Today, pensions are virtually nonexistent in the private sector. Soon they won’t exist in the public sector either. So all of your retirement—including saving, investing, debt reduction, tax planning, estate planning—is up to you.
There’s a lot to learn, but the information is there for the taking. I’ve known too many people who retired with a large chunk of change only to panic because they had no clue how to manage it. These folks were afraid, rightly so, because their lack of financial know-how made them vulnerable.
Give yourself a financial education while you’re accumulating wealth so you can enjoy that wealth once you retire. Otherwise, you might leave a high-stress job for a high-stress retirement.