The company recently invited an investment expert to host a 'smart retirement' financial planning seminar and share some wealth management tips. If you missed the seminar, here are the six steps the speaker suggested to plan and prepare for your retirement:

1. Evaluate your financial status – What assets do you have? How much debt do you have? When do you plan to retire? How much time is left for you to accumulate wealth? 
2. Set your budget – What type of retirement life do you desire – basic, moderate or extravagant? Decide on your lifestyle after retirement to estimate how much money you will need to retire.
3. Assess your retirement needs – Assess your needs, including food and other daily needs, medical fees, and even your life expectancy (A gentle reminder: Hong Kong people live the longest in the world).
4. Understand your risks – Financial risks include unexpected emergencies and inflation.
5. Create and execute your plan – Measures include insurance, an annuity and various investment tools to grow your money.
6. Review your plan regularly – Review your plan from time to time to determine if it still fits your needs and goals at different stages of life.