My brother has got a retirement plan created for himself with the help of a financial adviser. Can I follow the same to help me in my retirement?
Answer 
Follow
No. You cannot follow the same retirement plan and hope to achieve the same results as him. The reason for this is that his expenses, his loans and his income levels will differ from yours.
Right from your lifestyle currently to the lifestyle you want to maintain post retirement as well as your current expenses will be different from that of your brothers and just following the plan recommended to him won’t do you any good.
Many factors impact a person’s retirement plan such as:
- City of residence
- Family’s size
- Number of dependents
- Sources of income
- Debt to be repaid
None of these aforementioned factors will be the exact same for your brother, so it is advised that you meet a financial adviser and work out a retirement plan exclusively for yourself.
1 Views
Abuse Report