Financial Advices near retire

Some employee are worried with retirement. They worried because they will not receive the paycheck from the boss anymore. For employee who use to receive the money from boss, it must be difficult to retire.

1. Calculate the entire of income after the retirement. Surely, you will not receive the paycheck again but you may other source income. You may build a small business that can generate hundred or thosand dollars a month.
Some retirement may decide to work as freelancers. Estimates money that you will receive each month. Do not record the freelancers income to optimistic because the freelancers income is unpredictable.
Having investment can make your life comfort. Also estimates the money from stock, bond, mutual fund and ETF. Consider the recent economic condition recently.
2. Calculate the spending
You can estimate the spending when you retire. It is not difficult to calculate the spending if you used to track your spending. We can just make adjustment for the spending. Sometimes we should delete the spending post or add some new spending.
3. Where place that you will stay
The retiree prefers to stay to suburban where they can breath fresh air and far from noisy. The place where you live can affect your finance too. 
Living in suburban is cheaper than in the city.
4. Payoff the mortgage
It is not good to pay the mortgage after the retirement. It must be difficult to pay the mortgage monthly after retire. You can resize your house to cheaper house so you can pay off the debt.
5. Adjust the portfolio
People who near retire need to adjust the portfolio. You are not young again to cover the high risk. Shift your investment to safer investment such as mutual fund, blue chips stocks, and others. Some experts says that the people near retirement can invest at 30% grow fund.
Invest at bond is not good investment due the low interest rate. The bond has risk too.
6. Open a business
In my country, the government offers the workshop for public service who approach retirement. The government hopes the public service can open a business too.
In my opinion, an employee approach retirement must be difficult to build a business because most employee has no experience in business.
A business is a risky activity, meaning we can either win or loss. Not all people can make money from business. However, the employee may try it to make money.

How retiree make money

Some people are afraid to hear "retirement" word. They are afraid that they can earn money like they works at the company. Some old man are stress hear the word while they must fulfill the daily necessity.
In my country, the social security does not work. Most employee do not receive the retirement when they retire. The worker must be work hard. Some of the retirement sale cigarettes or candy inside train or bus. If the police get them sale in train or bus, the police will arrest them.
I think the retiree have to prepare to generate money especially who has no social security or insufficient retirement fund. Here is the ways to generate money for the retiree:
1. Find Freelancer
The retire people are tired to work again. That is why they can work as freelancer. They can use the knowledge and experience when they work at the office. It is not a difficult jobs for them. 
Some freelance jobs can pays $ 12 dollar for every hours and you can earn almost thousand dollar in a month.
2. Adjust the investment portfolio
Most retiree is the risk avoider investment. However, they may try invest at the risky investment to gain the revenue. Investing at bank account or certified of deposit is not good today. The interest is low and it could not protect you from high inflation.
3. Become landlord
Hiring some of the land. If you have many lands, you can hire to other people. Some people may use it for the crop field or farm that can generate revenue. You may share the revenue with the farmer. I think it is more profitable than charge the rent fee. This joint cooperation is also fair. When the crop yield increase, you will get more money and reversely.
If you have no land, you can hire the empty room for university student or worker. The cost of the room is about $ 400 a month.
4. Find smaller house
Some expert suggest to resize your house size when you retire. It could thrift some spending too due its small size. It does not need the expensive maintenance. The tax of small house is lower than the big house.
5. Make business from hobby
Most retire have time. They can take care the hobby. For example, an employee who loves cat can open a cat breed or pet shop that produces beautiful cat. A cat price could reach hundreds dollar. If you can sell 10 cats in a month, you can earn $ 1,000 in a month.
Some retiree can open a backyard farm to produce chicken and eggs. Buy a rooster and six hens and place them at your backyard. You can get four eggs a day or 120 eggs in a month. The organic eggs in Amazon is one dollar a pieces. You can get $ 120 in a month.
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Financial Planning for Retirement
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