These are excerpts from the author’s book “Deep,” which contains eight of his small books published in the form of Wisdom Literature covering different aspects of life: Facing troublemakers, dealing with pain, personal financial issues, gastronomy, reading, criticizing, inspiring, and feeling always good to go.

Series 3: Pocket – Your Personal Economy.

Week 52: Your Retirement Plan

• Money is an essential part of your retirement plan, but it is the nature and quality of life you look forward to after retirement that determines how much money you need then.

• Like any investment, don’t risk putting your retirement plan in one basket. Diversify your retirement investments and avoid risking them as much as you can.

• Nowadays continuing to work for a few more years after retirement has become a popular idea as part of the retirement plan for many. It is nice that this makes you feel a little safe, but it is wise to deal more carefully with the returns of work for this period, without forgetting the need not to postpone enjoying your resources and savings until a period after which you may not be able to enjoy what you collect.

• The retirement stage is usually accompanied by a change in the spending pattern, which is a natural change that does not have to be by reducing spending but by adjusting its direction to suit the requirements of this stage, considering the personal circumstances of each one and the cultural influences of each society. If your resources force you to reduce your spending during this stage, direct some of your spending to qualitative activities or items to make up for the quantity you missed.

• It’s wise to start making your retirement investment while on the job as much as you can. This will give you the opportunity to test the feasibility of this investment in a calm manner and correct its mistakes or even replace it with another investment if you find that it is not suitable.

• Owning your dream house basically helps make your retirement plan more robust, but before you drain your savings in your dream house, you must make sure that you have enough to spend after you live in that house. Securing housing is mostly on the top of every person’s priorities list, but one has to pay attention at least to what comes next at the top of the list.

• The way you retire reflects your behavior throughout your career interval. It’s important to pay attention early to your spending, saving, and investment approaches to avoid unpleasant surprises when you retire.

• You will be disappointed if you overestimate your postretirement plan. There is no problem with ambition, but do not base all your expectations on one or a few exceptional examples and try to study all the cases you can reach. When you decide to set your own ceiling on extraordinary challenges, you must be prepared to accept the potential consequences.

• The challenge is not all about money during retirement, but your preoccupation with social activities and volunteer work occupies your time, distracts you from purely consumption behavior, and reduces your anxiety about the need for money.

• Don’t be very worried when you find that your retirement plan is not fully secured; your current job itself is not fully secured. Sometimes our obsession with insecurity is the cause of our feeling insecure more than being due to any other tangible threat.