Responding to the era of longevity and disease-free life with a new paradigm of retirement planning 4.0 strategy!

"The Retirement Financial Planning Bible" contains all the knowledge and information on retirement financial planning, so that this one book is enough to prepare for retirement.
This voluminous 880-page book introduces retirement financial planning strategies using 30 key keywords, ranging from goal setting and fund management, savings and stock and real estate investment, pension (national pension, retirement pension, private pension) and insurance design, nursing care preparation, inheritance and trusts, income diversification strategies, financial support for children, and fraud prevention.
Through digital innovation and sustainable personal finance strategies, we are approaching retirement planning with greater flexibility and practicality.
It will be a useful guide not only for those preparing for retirement, but also for professionals who consult and help others with retirement planning.

Now we need to come up with a new life cycle model.
This model includes the transition to retirement and the emergence of long-term care (longevity with illness, longevity without money).
The new lifecycle model includes the following steps:

· Retirement Transition: This is the preparatory stage of several years before retirement, and includes not only financial planning but also mental and social preparation.
· Active retirement: The stage immediately after retirement where people become active and seek new hobbies or jobs.
· Stable retirement: A stage where you can live a more stable life and focus on health and financial management.
· Long-term care period: A stage for preparing for longevity (living with a long-term illness) or longevity without pension (depletion of pension funds).

--- p.39

Here are some reasons why changing insurance products is important during the retirement transition:
First, because financial burden increases as income decreases after retirement.
Before retirement, you have a steady income, but after retirement, you have to rely on pensions or savings.
Therefore, it is necessary to adjust insurance premiums to reduce the financial burden.
Second, after retirement, health problems are likely to occur frequently, which will likely increase the burden of medical expenses.
Therefore, it is important to change to an insurance product that sufficiently covers medical expenses.
Third, existing insurance products may not fit your lifestyle after retirement.
For example, a product that covers living expenses or medical expenses may be more suitable than a product that covers a home loan or children's education expenses.
Finally, new insurance products may offer more favorable terms depending on legal changes and market trends.
Therefore, it is important to reevaluate your insurance products and change them if necessary at the retirement transition point.

--- p.177

After retirement, unexpected taxes may arise.
Among them, it is important to understand the 12 major taxes.
First, retirement income tax is a tax that occurs when you receive retirement benefits.
Second, pension income tax is levied on income generated from national pension, retirement pension, and private pension.
Third, financial income tax is levied on interest and dividend income, and may be subject to comprehensive taxation of financial income.
Fourth, capital gains tax is applied when buying and selling real estate and stocks, and fifth, rental income tax is applied to real estate rental income.
Sixth, miscellaneous income tax is levied on irregular income such as lottery winnings or prize money.
Seventh, property tax and eighth, comprehensive real estate tax are continuously levied on real estate owners.
Ninth, gift tax is imposed when assets are gifted, and tenth, inheritance tax is imposed when assets are inherited.
Eleventh, local health insurance premiums can be adjusted based on retirement income, and twelfth, resident taxes are levied based on income and property taxes.
It is necessary to understand these taxes and plan in advance.

--- p.393

There are many successful cases of tax savings achieved by adjusting pension receipt limits.
One retiree initially faced a high tax burden when receiving both retirement pension and personal pension simultaneously, but adjusted the timing of receipt after receiving expert advice.
As a result, the tax burden was significantly reduced and the sustainability of pension assets was increased in the long term.
These cases show how important it is to set a proper pension receipt limit for tax savings.
By reducing your tax burden, you can keep your pension assets in use longer, which plays a major role in strengthening your financial security in retirement.
When setting pension limits, you should consider not only tax savings but also long-term financial stability.
To achieve this, it is important to regularly review your economic situation, personal health, and changes in living expenses, and adjust your benefit limit if necessary.

--- p.631

After retirement, the financial relationship between parents and children needs to be redefined in a new way.
Japan's 'intergenerational financial sharing model' is a useful example for this.
This model clearly divides financial responsibilities between parents and children, helping parents avoid placing an undue financial burden on their children after retirement.
For example, parents aim to manage their retirement assets, while children aim to live independently and not be dependent on their parents.
This approach helps reduce intergenerational conflict and strengthen trust within families.
A 2023 Japanese survey found that families who adopted this financial sharing model experienced less financial stress in retirement and had a clearer understanding of each other's financial roles.

--- p.868