Retirement Life Planning: Get well-prepared for your twilight years

Retirement life planning

Get well-prepared for your twilight years

By the time you're stepping into the final chapter of your working life, you should be well-prepared with a comprehensive wealth management plan that fits your retirement needs to attain adequate savings and medical protection
If you have multiple MPF accounts, you may want to consider consolidating them into a MPF personal account for effective management
As you plan, you may start by deciding on your desired retirement lifestyle. Then you will be able to determine a financial strategy according to your required retirement budget. Select ways to realise steady asset accumulation and plan your legacy in the long run

If you expect to retire soon, you may be looking for less volatile investment and wealth accumulation insurance products to close any financial gaps in your desired retirement life. A deferred annuity insurance plan offering a steady stream of annuity income may help achieve a hassle-free retirement
Misfortune can ruin your plans, especially critical illness. Review your existing medical coverage in view of your latest medical expenses. Top up the sum insured or enhance medical and critical illness insurance coverage if needed

After the retirement celebrations and honeymoon period are over, you may go through a series of emotional phases. Stay positive and you will eventually settle into a satisfying and meaningful retirement lifestyle
Hang Seng Personal Banking mobile app lets you bank anytime, anywhere. If you need counter services at branch, you can get an eTicket with eTicketing for Counter Services with mobile before heading out
You can withdraw your MPF accrued benefits in a lump sum or by instalments when you retire at the age of 65 or retire early at the age of 60 depending on your personal needs and financial circumstances

A life protection plan in the form of term life, whole life or universal life insurance offers you and your family an all-rounded protection with high financial flexibility
Travel lovers may wish to travel around the world in retirement but this dream does not come cheap. Assess your travel funding according to your travel plans. Frequent travellers may consider purchasing an annual travel insurance plan to save more

Conduct a holistic review of all your bank accounts, insurance policies and pension details. Draw up a will if needed to indicate how you would like to distribute your assets after death
Share your funeral plans and wishes with your loved ones at an appropriate time
It's always difficult to lose a friend or family member. A bereavement guide can soothe your family's worries as they deal with practical financial matters

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eTicketing for Counter Services

Get an eTicket via Mobile App before heading to the branch to minimize waiting time¹
View the real-time branch counter queuing status via eTicketing service for better time scheduling

Other point(s) to note

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Remark(s)

The service is applicable to some selected branches with relevant disclaimers apply.