THIS week we will focus on how retirement strategy differs or is similar for two self-employed individuals, one aged 21 years old and the other 55.

Camille Steer, senior corporate manager, JMMB Fund Managers, advises that, whether an individual is planning for retirement at 21 years old or 55 years old, his/her retirement portfolio should include:

 

· an emergency fund to safeguard against high-interest rate debt in case of unforeseen circumstances;

 

· an investment portfolio that suits his/her retirement lifestyle and risk tolerance, while also providing an income stream in retirement and

 

· a retirement scheme that will ultimately distribute money to sustain the individual when he/ she stops actively working.

https://www.jamaicaobserver.com/sunday-finance/retirement-planning-for-self-employed-individuals-21-years-vs-55-years_246921