As you start off your investment journey, retirement may seem like a faraway goal.
Many people do not give serious thought to retirement planning until they get much closer to the official retirement age of 62.
It doesn’t help that big ticket items, such as buying a first home and raising a family, make planning for retirement a daunting task, akin to climbing Mount Everest.
In trying to reach the peak, we can’t enjoy the beautiful scenery without first starting out at the bottom.
Similarly, if you want to enjoy a comfortable retirement, it’s time to take that first step.
The three ‘I’ philosophy
On a long and gruelling journey, the right equipment can make a big difference in ensuring the climb is successful.
When it comes to personal finance, there are also tools that can help you out.
One of them is the three ‘I’ philosophy, or “income”, “insurance” and “investment”, in that order....