THE BEST YOU WEALTH & RICHES
mandatory savings accounts are being discussed for anyone with full or part-time job. Laurence Fink, CEO of BlackRock, the world's largest investment firm that has $4 trillion under management and is one of the major players in the financial world says:
"We need a comprehensive solution to retirement savings that includes some form of mandatory retirement savings. In a different survey by the
UK Money Advice Service, 12 per cent of people aged over 55 who have not yet retired have not considered how their pension will be funded, while 40 per cent are resigned to having to work as long as they
WHAT DO YOU NEED TO DO?
Engage with the problem. If you haven't yet considered setting up pension provision, no matter what age you are, the time to start is now.
Look ahead. It may seem like a major effort to think so far off into the future, but ask yourself, what future would you like? One in which you are living a hand-to-mouth existence in your old age, or one in which you have a stready income that supports you during your well- earned retirement?
Get advice. One thing to is check in with a reliable Financial Adviser and set a plan for your future.
Save Save Save. Getting into the habit of saving is the starting point. Set aside an agreed amount every month to put into your pension pot and set up that direct debit. Once you've started, then you'll find that your life adjusts to the new investment in your future.
Cut your cloth. Look for ways that you can cut spending now to fund that pot. So many people subscribe to services they rarely use. What don't you need? The gym membership? That new car now?
Make new money. Think of new ways to make a bit of extra money. Selling things online, getting extra work, looking for other ways to make money at business clubs - all these are options.
can and eight per cent believe they'll never retire. The Service has dubbed this apathy towards penions as "Pensionitis", a condition that could leave people struggling financially in retirement. Remember, no one else
is going to provide for you. It may seem a long way off, but now's the time to start planning for the future!
FAR LEFT
Twelve per cent of people over 55 years old have not planned for their retirement
ABOVE LEFT
The earlier you start saving, the more comfortable your retirement will be
RECOMENDED READING
Tavis Smiley Fail Up
Readers will find a kinship in Smiley's humanness that inspires
The Best You website is packed with loads of great books, DVDs, CDs, downloads, free articles and reports. Check it out now:
www.thebestyou.co
Alan Carr Easy Way to Debt-Free Living
Addresses the various psychological attitudes to money.
John Richardson Wake Up and Smell the Profit
Witty, authoritative, comprehensive and fun.
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