In Retirement
GOOD NEWS ALL ROUND !
A. You’ve retired, Hurrah ! No longer a wage slave, no longer a clock watcher, The world is your oyster.
B. The kids are grown up and gone.
C. Health of the elderly has never been better.
The average 65 year old male has a 76% chance of living to 80, a 59% chance of living to 85, a 35% chance of 90, a 14% chance of 95 and, for the girls, the figures are even better.
But let’s look a little closer at this retirement nirvana.
Yes, you have retired but, on average most pensioners see their disposable income drop by around 65%, no yachting around the Caribbean just yet then.
Just when you thought you had escaped.......40% of “children” still receive some level of financial support from their retired parents (won’t they ever leave us alone !).
Increased longevity is the ultimate life bonus but someone has to pay for, what some American economists have dubbed, the "retirement smile".
Don’t Panic ! You’re not doomed to a retirement living in a tent, bailing out your spendthrift offspring with only the prospect of elderly ill-health to look forward to.
It is essential that you make plans though. There is every possibility that your 45 years of working will have to finance 25 years, or more, in retirement.
In retirement you need to make the most of what you’ve got, generate tax-efficient income, adjust and plan your lifestyle, manage your money with dedicated retirement pension banking to make sure your money doesn’t run out before you do! Contact us now to review your retirement plans.
