All too often our busy work and private lives prevent us from focusing on the important issues of pension and retirement planning, failing to recognise how quickly time passes us by until very often it is too late to make a meaningful impact on post work income.
It is a fact that the number of our working days diminish as we move forward, ever closer to our days in retirement meaning that our planning time has never been more important than now.
Governments around the world continue to extend our working lives in order to delay the payment of State benefits. In some parts of the world individuals need to reach age 70 before pension benefits from the state or company funded schemes become accessible. This is a trend likely to continue in the foreseeable future as those same Governments grapple with mounting debt.
Our expat pension planning page discusses the disappearing workforce and pensioner bankruptcy rates in more detail which should be alarming to all.
It is the case however that some people are happy to work until age 70 or beyond, but the vast majority of individuals we speak with are looking to scale back their working years in order to enjoy their retirement from a much younger retirement age - if you fall into this category you may well need to consider very carefully the retirement savings provision you are making if you are to attain the funds necessary to meet such goals.
You will find our pension related articles cover these issues in greater detail.
Early planning and action are therefore essential to create the income needed once the working life comes to an end.
Take a look at the graphical representation below of the paydays remaining for the various age groups: do you find these sobering facts?
Take action NOW to discuss YOUR options for securing YOUR retirement income.