Yesterday was your 54th birthday and you realized that you are no longer in your 40s! Yes it takes 4 years to realize that. Now you may feel as though you do not have much time to accumulate wealth. Partially true, but only partially – you probably have a lot more time than you think. That means you can have far greater financial security if you act sensibly, and smartly. What does “acting sensibly and smartly” mean?



It starts by having a plan. Immaterial of your confidence (or overconfidence) it is now important that should have a financial plan and have it checked by a person of good repute in planning. He need not be a good wealth manager, but he should be a thorough financial planner. If you are in your 50s, the value of having a financial plan is greater than having a plan in your 20s.



You and your spouse simply must know what it costs you to live and how you are going to generate that income when you stop working. Of course this is absolutely the first step towards Retirement P…