If you have not read the Invest section of last Sunday Straits Time, you have missed out on a few good articles related to financial planning. One of them is on “Financial Planning for the Sandwich Generation”.

I find the “advice” provided very useful, insightful and practical. These “advice” are in essence, the critiques from the judges on the financial plans submitted for the FPAS Financial Planner Awards. If you have no idea what or how to start planning for your financials (and retirement), you will find this a GREAT read.

In thinking of our financial state and our FIRE aspiration, we have to think beyond just normal expenses. In fact, they advised that if we want to be conservative, instead of using a forecast expenses based on current experience, we should use the whole of our active income as our future expenses for retirement planning. Why? This is because