1) Insurance/investment for payout after reaching 65. I will
continue to live in my house (which would be fully paid up by then;
along with car etc.).
2) Having a much smaller retirement - when I retire, I will sell my
house, and use the proceeds to fund my retirement >> move to
a retirement village where there are nurses/staff around the clock
to watch over me. Of course if my kids invited me to stay with them
I'd be more than happy but I don't want to be a burden.
I'm greatly in favour of (1); more tied down now, but greater
financial freedom when I'm old. (2) is like a contingency plan if
*TOUCHWOOD*, somewhere along the way the need for funds requires me
to deplete what I've set aside for (2).
After I retire, ideally I'll be asked to remain as a consultant in
the firm, or else, I don't know .. just do stereotypical old man
stuff .. sit around, play chess, keep a couple of stupid birds
..
