Herrand Associates Wealth Management Singapore, Tokyo Japan

Making the money last when it's time to shift from saving to spending You’ve earned and saved money and now you’re headed into retirement. What could go wrong? Along with a new schedule and opportunities come new questions and challenges, particularly around finances. The most pressing ones are often: “Do I have enough savings to last my lifetime?” and “How do I turn my nest egg into a paycheck that I can count on throughout retirement?” One of the biggest changes in retirement is going from receiving a consistent paycheck to needing to generate your own cash flow to cover expenses. This shift requires a new investment strategy and mindset. The 3 Phases of Retirement To start, you’ll want to think of retirement as a series of three unique stages: The “Go Go” Years In the first years of retirement, you’ll likely be focused on the fun things in life, such as travel or enjoying activities with friends and family. The result can be a spike in lifestyle expens

Lots of people dream of becoming a millionaire, but few actually know what it takes to get there. Most millionaires weren’t handed their wealth, and few stumbled upon it by luck. A mere 20 percent of them inherited their money, according to Thomas J. Stanley's book The Millionaire Next Door. The conclusion? The majority of millionaires are self-made. So, if you want to be a member of that elite group, exactly how do you make a million bucks? The truth is, there’s no secret handbook for millionaires. Most of them follow typical investing best practices. But you do need to be smart with your finances, so do your research and invest strategically. Stanley, author of the "millionaire" book, also believes that attitude is a contributing factor. “One of the reasons that millionaires are economically successful is that they think differently,” he writes. Ready to start thinking differently and invest smartly, to make your own million? Here are four tips to help y

How many times have you been told that saving money is a good thing? Financial specialists recommend that you save a bit of money every month, but that's easier said than done. After all, it’s not uncommon for people to live paycheck to paycheck. However, if you want to start a company, you’ll need to break away from this cycle and start budgeting and saving. At times, this will be a trying task, but it must be done if you want to invest in your future as an entrepreneur. If you want to start managing your money more effectively and set yourself up to become an entrepreneur, follow the six tips below. With these techniques in your arsenal, you’ll start so see immediate changes, and you’ll set good behaviors in motion that’ll serve you throughout your career as an entrepreneur. 1. Prioritize organization. When you are organized, you can track every facet of your finances. Record all of your financial information in one place so you can refer to it and keep track