During the time period when you are accumulating your money for retirement, you will faced certain LEAKAGE.
A leakage will mean having to use some of your retirement money UNEXPECTEDLY or EARLIER than planned.
LEAKAGES are things, people, situations, circumstances, events, mistakes or actions that will caused you to spend money which you have set aside for retirement.
Potential Leakages
- Losing job, sudden demotion or retrenchment
- Parental allowance / health / living expenses
- Business failure
- Financial help for friends / relatives
- Temptation & desires that you indulge in
- Unexpected ill-health with high medical expenses
- Cheated of finances by friends, associate / advisor
- Accidents or diseases \
- Spouse' spending habits
- Theft break-in or natural disaster
- Bad Investment
- Expensive bad habits / addictions
- Peer pressure to live a lifestyle like them
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