You're an accountant approaching retirement. What are some common misconceptions you should avoid?

I retired due to superannuation age fixed by my employer. The opportunities that have come my way post my retirement have been very few and far between and really not matching with my experience or profile. Due to financial security, there’s no compulsion for me to work, but in today’s time, when the average lifespan has become longer due to increased health awareness and medical advancement, age has just become a number and one can work till much older age bracket of say 75 or more!

Ninguno. Hay que dar la batalla cultural nuestra generación tiene valores únicos : Disciplina Lealtad Experiencia!!! Y Conocimiento en la materia. Somos crítico sistemáticos e imparciales . Saben porque los países de la región han fracasado . Porque son abogados Un contador Auditor y economista jamás cometerían los errores de estos lápiz blanco . Tu contador si a ti te digo !!! No te rindas eres mejor de los que vienen .

A aposentadoria aos 65 anos é um conceito ultrapassado em um mundo onde a expectativa de vida aumenta continuamente e as carreiras s?o mais flexíveis. Muitos contadores têm a capacidade e o desejo de continuar contribuindo com sua expertise bem além dessa idade, seja em tempo integral, meio período, ou em fun??es consultivas. Esta flexibilidade n?o apenas enriquece a profiss?o com a reten??o de experiência valiosa, mas também permite aos contadores planejar uma transi??o suave para a aposentadoria que atenda às suas necessidades pessoais e financeiras, desafiando a norma estabelecida.

One of the common misconceptions you should avoid as an accountant approaching retirement is "once you are retired, you are tired." This is not always the case, you can team up with colleagues within the profession and startup an accounting consultancy firm where you can offer your services on terms favorable to you. You could also change your mind and start on a completely difference journey that could help solve other problems in society.

I am a Management Accountant. I love what I do, and I do it with passion. As a sustainable value creator, I'm not going on retirement until I close my eyes in death. No retirement for me, unless I have absolutely nothing to offer, which isn't the case. Passion doesn't go on retirement. My 2 cents!

I worked as an accountant in the construction business for over 54 years so well past the 65 year barrier. I decided well before retirement I needed a challenge and that is when I bought a boat and it has been a challenge ever since taking it out and bringing it back and all the problems associated with owning a boat. The second challenge I put upon myself was to to take up model railway modelling. I now have three layouts. So you see you must set up challenges after retirement it keeps your brain alive. M

You cannot rely on outside sources for your financial stability. With such dramatic changes in the economy and companies' financial stability in our current environment, we can't have complete confidence in these outside resources.

Definitivamente no se puede confiar en el seguro social y las pensiones, porque lamentablemente no son pocos los que no llegan a pensionarse y el seguro social no alcanza a cubrir el costo de vida en Chile, debiendo en muchos casos buscar alternativas de generación de ingresos para vivir el día a día. Las pensiones que mucho se habla durante el último tiempo son en un importante porcentaje bajo el umbral de la pobreza, obligando a quienes se jubilan a buscar otras fuentes de ingreso para subsistir, cuando les es posible hacerlo.

A previdência social vem demonstrando que nos próximos anos poderá entrar em colapso. O índice de natalidade vem diminuindo e a longevidade aumentando, menos pessoas contribuindo para a previdência e mais pessoas tendo acesso a ela. Depender da previdência e nos coloca em posi??es desfavoráveis, visto que o poder de compra vai diminuir com a infla??o e o reajuste n?o ocorrerá na mesma propor??o. Realizar boas aloca??es durante a vida nos coloca em posi??es mais favoráveis na aposentadoria. Sugest?o é separar 10% do salário atual para aplicar em ativos que superem a infla??o e fazer com que estes recursos se multipliquem com o tempo. Quanto antes você come?ar, menos irá precisar e depender da aposentadoria previdenciária.

A dependência exclusiva em fontes tradicionais de renda para aposentadoria, como a Previdência Social e pens?es, é uma estratégia arriscada. As realidades econ?micas, as mudan?as nas políticas governamentais e a infla??o podem acabar com o poder de compra desses benefícios. Portanto, é essencial para os contadores diversificar suas fontes de renda de aposentadoria, explorando investimentos, planos de poupan?a individualizados e oportunidades de consultoria, garantindo assim uma renda mais estável e previsível na aposentadoria.

The "4% rule" suggests withdrawing 4% of your portfolio annually for retirement, but it's not a one-size-fits-all solution. Factors like market conditions, portfolio allocation, and individual circumstances can affect its effectiveness. While it's a useful guideline, retirees should regularly reassess their withdrawal strategies with a financial advisor to ensure long-term financial security.

A commonly cited guideline in retirement planning suggests withdrawing 4% of your portfolio each year, with the expectation that it will sustain you for 30 years. However, this approach may not be universally applicable, particularly during periods of market volatility or in low-interest environments. Adjustments to your withdrawal rate may be necessary, considering factors such as portfolio performance, life expectancy, expenses, and risk tolerance. Additionally, diversifying your portfolio across various asset classes and income sources can mitigate exposure to market fluctuations.

A regra de saque de 4% é um ponto de partida útil, mas n?o leva em conta a volatilidade do mercado, taxas de juros em mudan?a e expectativas de vida individuais. Contadores próximos à aposentadoria devem considerar uma abordagem mais personalizada para o planejamento de saques, adaptando suas estratégias para refletir seu estilo de vida, despesas esperadas e a composi??o de sua carteira de investimentos, garantindo assim que seus recursos durem durante toda a aposentadoria estimada.

Yo diría que hacer un plan y elaborar un presupuesto en la etapa de jubilación es altamente recomendable y beneficioso porque nunca es posible prevenir lo que deparará el destino y las situaciones que se vea enfrentado en la etapa de jubilación con ingresos bastante inferiores a los que tenía en su etapa activa. Aquí en Chile la salud privada para un adulto mayor con preexistencia de enfermedad no le es rentable por lo que lo obliga a emigrar al sistema público. Una enfermedad no prevista puede llevar a una familia completa a perder todo lo que ha ahorrado en su vida y lo obliga a vender los bienes que acumuló en su etapa activa.

Retirement planning and budgeting is a crucial decision to make. Without proper budgeting you will end up relying on others income. And as well as you will spend on your bucket list without monitoring or parking enough funds for your health, unfortunate/unexpected expenses.

Você deve inciar seu planejamento muito antes da aposentadoria e segui-lo com mais critério após se aposentar, devido a natural queda do padr?o de vida. Ao se planejar, conseguirá ter uma aposentadoria tranquila e ter recursos para gastos inesperados naturais dessa fase da vida.

Budgeting has no expiry date in my view, unlese you operate in an unending hole of inflows. Even in retirement one still needs to budget, forecast and preview the 5 year horizon and plan accordingly. Its keey to always have flow chart of life and its cashflows demands. So in short, budgeting remains key even in retirement

Manter um or?amento detalhado na aposentadoria é vital para evitar o esgotamento dos recursos. A aposentadoria pode durar décadas, durante as quais despesas inesperadas, como cuidados de saúde, podem surgir. Ao planejar e monitorar de perto as despesas, os contadores podem assegurar que seus recursos financeiros os sustentem confortavelmente, permitindo-lhes também desfrutar de hobbies, viagens e outras atividades de lazer sem preocupa??o financeira.

As an accountant approaching retirement, a common misconception to avoid is the Myth that You can do it all by yourself. No you cannot. You need help and advice from other colleagues.

While a person may be confident in his/her financial skills, seeking professional advice can provide valuable insights and guidance to help you optimize your retirement strategy and avoid potential pitfalls. A professional can offer an unbiased opinion and help you make informed decisions, taking into account your personal goals, risk tolerance, and time horizon.

You don’t know what you don’t know. There’s just too many amazing products out that Financial Advisors may be able to assist you with. That could include bonus money as a result of you rolling over your funds, as high as 47% using a retirement ready income account plan. These accounts protect you from losing money to market volatility, lawsuits, and high fees of traditional mutual funds based accounts. You should also consider tax-free growth and how to position yourself using tax-free products that you probably aren’t as familiar with as you are accounting.

As accountants, we must apply our knowledge not only in the workplace but also to our personal finances. This includes considering the possibility of outsourcing professional services for retirement planning. We should weigh the advantages and disadvantages of such outsourcing and estimate the associated transaction costs. Doing so enables us to make an informed decision about the need for professional advice.

Cómo se dice comúnmente, zapatero a tus zapatos; si bien como contadores nos formamos y trabajamos en un campo amplio de acción que nos lleva hasta conocer de pensiones, no es desconocido que hay personas que se especializan en este campo y tienen mayores conocimientos y formas para poder guiarnos en tomar las mejores decisiones y logra el éxito en la consecución de esa jubilación deseada. Siempre será mejor, asesorase de un especialista y dejar que nos guíe en el camino.

And the end of the day what matters is your happiness and satisfaction. If retiring at 40 gives you satisfaction then go for it, if retiring at 65 makes you happy then go for it. There is no one size fit all approach.

Mudar de ideia, opini?o, isso é algo natural, pois com a maturidade da profiss?o, e também na vida pessoal, você aprende no dia a dia, ver com outros olhos situa??es cotidianas, onde em um certo momento era um problema, hoje é um simples afazer.

Contemporaneo, a quest?o do trabalho solitário tem sido discutida, o trabalho ímpar nas organiza??es é validado por alguns e por outros n?o. A análise que fica é a multiplicidade das profiss?es, bem como suas especializa??es, acredita-se na for?a do trabalho mútuo e sinérgico, frente ao trabalho de uma única for?a. Igualmente, o trabalho multidisciplinar é algo fundamental, haja vista que todas as empresas lidam com demandas específicas, onde um profissional especialista é fundamental e único. N?o obstante, recomendo a contrata??o de profissionais conforme sua experiência e execu??o, pois cada departamento depende de líderes especialistas, o qual s?o fundamentais para o excelente andamento de todas as organiza??es empresariais.

Accountant can never retire. Accountant finds ways to work non-stop 24/7. RRSP/ RPP savings are there to enjoy the life post retirement. Don't try a new business venture post retirement. The age is not on your side. If you want to try any business venture, do at least 15 years before your retirement age of 65 years.

That retirement means end of career. One can still provide technical service or technical assistance to businesses even after retirement so do not think retirement means end of career.

I agree with above contributions. Just to add that majority of accountants are financially illiterate in the sense that in as much as we are able to manage the finances of the businesses we work for, many fail to succeed at their own financial management and discipline. Because perhaps there are no personal rules or principles to abide by since its your money. As we put in strategies for our retirement some things to consider is your current financial status and what kind of life style you need to live when you retire, the gives an indication of how much work you need to put in to achieve the retirement number to work towards.

Retirement can be a time to explore passions or pursue a side hustle. Consider if there's part-time work, consulting, or volunteer opportunities that align with your interests and supplement your income (if needed). Also, retirement is a chance to explore new hobbies, travel, spend time with loved ones, or pursue lifelong learning opportunities. Plan fulfilling activities to keep you engaged and mentally stimulated.

Approaching retirement in accounting, it's vital to avoid misconceptions: Retirement planning extends beyond finances; consider psychological and social aspects (Atchley, 1989). Warren Buffett's philanthropy illustrates this. Retirement doesn't mean complete disengagement; many find fulfillment in part-time work or hobbies (Moen, 2003). Angela Lansbury continues acting. Retirement planning is ongoing; periodic reassessment is crucial (Settersten & Trauten, 2010). Jack Bogle adjusted his strategies accordingly. By dispelling these myths and drawing from theory and examples, one can retire with clarity and purpose.