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Your money or your life? Which one will run out first? |
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Sunday, 11 March 2007 |
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The good news is people are living longer. The bad news is each extra year of retirement requires more money and with the ever-increasing cost of living, this means a lot more money. Obviously you want to enjoy your retirement in comfort so you will need to accumulate the necessary funds to do so and if you want a few tips you better
In today’s world, financial planning is vital - your combined savings, investments and pensions have to be large enough to see you through your retirement. (Bonds, cash, stocks and shares, property, unit trusts and investment trusts will all play a part in this.)
It can often be a startling experience to estimate how much time you have left on the clock both in terms of working life and indeed in terms of life itself.
It is perhaps not the most enjoyable subject to contemplate but is certainly a beneficial exercise to work out how long until time runs out. If you find this prospect a bit daunting then why not contact our qualified Pension specialists who can run a forecast for you - this will highlight the points you should consider.
There are obviously no guarantees when it comes to lifespan but two simple formulae, assuming a life expectancy of around 85 years of age, are as follows.
85 – present age = number of expected years until death
65 – present age = number of expected years left until retirement
What can sometimes be more worrying that contemplating one’s life expectancy is the realisation that the number of years one has left to retirement, that is, the number of years left to earn enough to prepare for a comfortable retirement is a lot less than any of us realise. More simply, how many more pay days do you have in order to save before you basically go on holiday until the day you die?
When looked at from this point, a lot of us realise that our dreams of retiring in our forties are just that – dreams. Sadly, we are all faced with the dilemma of whether we will have earned enough money during our working lives to provide for a comfortable retirement.
Globaleye offers a wide range of investment vehicles tailored to suit your individual requirements and your current financial situation. Contact us for a financial check-up to determine the state of your financial health and to explore the various options available.
To arrange an appointment E-mail us or telephone:
Toll Free: 8004558 Tel: (+9714) 3489330 |