What do you do if you're an economist approaching retirement and need to manage your finances effectively?

Two things Do a SWOT analysis on yourself relative to What you want to do in retirement and generate a business plan for “doing your retirement” Secondly calculate today what you really want to possess or spend during the course of your retirement. End age? 90 allows for longish life and modern medicine. Also there are diminishing needs for some expenditure and higher in health and care

Retirement planning is one of the most critical & sensitive financial planning of our lives. If our Retirement planning has many variables and influenced by our aging mind and body it can result in total failure. Low risk initiatives is the basis of a Retirement plan, we have to be able too ride out any volatile financial and economic crises. Retirement plan should be Diversified and stretched across different assest lines. Investments in gold, diamonds and other commodities that have a high return and can convert to cash immediately any market in any country.Cost of living is a soaring expense and in Retirement its important to be versatile when managing these expenses,it's important to have leverage over financial instruments that we use

Consider your desired retirement lifestyle. Will you travel extensively, downsize your living situation, or pursue hobbies? This will determine your income needs. Factor in potential healthcare costs, including insurance premiums and possible long-term care needs.

Assess where you are right now, in terms of your income, cash flows and Assets. Clearly define where you want to reach...absolute quantum, timelines, etc. And then build the bridge between these two points.

Cashflow management is a critical aspect of post retirement life, when there might not be a steady stream of fresh income. The same can be achieved via a mix of different products and systematic withdrawals.

Planning for taxes and inflation is crucial for maintaining the purchasing power of your retirement savings and maximizing your after-tax income. One option could be to purchase annuities or other insurance products that provide guaranteed income streams indexed to inflation. These products can help protect against the risk of outliving your savings, especially in an inflationary environment. It's important to carefully evaluate longevity insurance options, comparing features, costs, and financial strength of insurance companies before making a purchase decision. Consulting with a financial advisor who specializes in retirement income planning can help you determine if longevity insurance is appropriate for your financial situation.

Esquemáticamente sería como sigue: 1.Cuantifica necesidades. Compara ingresos actuales con la simulación de la TGSS 2.Define aportación inicial y periódica 3.Perfil de riesgo. Determina la tasa de rendimiento y el riesgo para simular la planificación 4.Estrategia de inversión a partir de la cual capitalizaremos el ahorro de forma eficiente 5.Estrategia de desinversión. Hay que evaluar la forma más eficiente de complementar los ingresos en el momento del retiro, considerando la esperanza de vida más un margen de años suficiente para cubrir un escenario de longevidad extremo 6.Sucesión. Paralelamente hay que planificar el legado patrimonial para llegar a una solución integral en la gestión. Implica contemplar todas las opciones de gestión.

Wealth TRANSFER...is often the most ignored aspect. Estate planning is a key piece which can really make life easy for your loved ones. Consider creating a proper 'Will', covering 100% of your assets.

Estate planning and gifting strategies go overlooked. Ideally you will have a will, medical power of attorney, guardianship, etc to make your wishes clear in good health, disability, or after death; there’s nothing worse than family fighting over who makes decisions in your incapacity or fighting over wealth at the funeral. Gifting funds to charities and loved ones usually motivates people more than paying taxes by default.

Por mi experiencia profesional, partir desde definir cuál es el ingreso que se espera recibir mes a mes durante la jubilación y de forma vitalicia. Un ingreso que permita cubrir gastos, imprevistos, necesidades y la calidad de vida esperada. Mediante cálculos financieros se podrá determinar cuál es el monto meta que se deberá ahorrar para tener disponible en la jubilación. Partiendo de ello, construir una estrategia de inversión diversificada que incluyan instrumentos de liquidez periódica. Ideal si cuenta con un tipo de seguro. Añadiría la planificación sucesoral como un elemento clave y protección societaria si se tiene empresas.