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Retirement Savings

"Failing To Plan Is Planning To Fail"

- Alan Lakein

Imagine people finding out the hard way how true this quote is.  And imagine their panic and despair as they realize that it is quite probably too late to start building an adequate retirement pension.

For many, the ten or twenty years until retirement may seem like the distant future.  The warning lights, however, have been flashing for quite some time now.

The reality?  Governments worldwide are facing future pension obligations that they will not be able to meet.  In developed countries, people are living longer.  Consequently, we are faced with aging societies in which fewer workers are paying increasingly higher taxes for the health and retirement benefits of their elderly citizens.  Coupled with a declining birthrate, one is left to wonder who will fund the retirement pensions of today's workers.

 
   
Cost of Delay - click image to enlarSelect Asset Management Cost of Delayge
Due in part to these discouraging demographics, the trend is for governments to have their citizens take more individual ownership of pension planning. (In the financial services world this is often described as "moving from defined benefits plans to defined contributions plans.")

What can YOU do about this ticking pensions time bomb?

For one thing, the earlier you face up to the issue, the more options you have. That's probably why these five important topics almost always seem to come up whenever our consultants meet with people concerned about achieving their financial goals for retirement:
  • What are your sources of retirement income?
  • How much money do you need to retire 'comfortably'? (Many people have never realistically defined what this means. We can help you get clearer on that.)
  • When are you planning to retire?
  • How might inflation impact your retirement planning?
  • What investment returns are you expecting and over what time period? And how much risk are you prepared to take?
Select's professional consultants have years of experience in how the international side of our clients' lives and careers can affect their retirement horizons - in fact, many of our consultants also live and work abroad, and understand these issues from practical experience.

Why not give us a call and we'll explain how you can start your retirement planning before it's too late. Naturally, there's no pressure and no obligation to do anything with the information available to you. The consultation is free and at a time convenient for you - by phone or in person.

We look forward to hearing from you.
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Key Facts
EVEN THOUGH FOREIGNERS ARE REQUIRED TO PAY INTO THE JAPANESE SYSTEM, THEY WON'T ACTUALLY GET THE MONEY BACK UNTIL THEY HAVE PAID IN FOR AT LEAST 25 YEARS.
2009 MARKS THE BEGINNING OF A TREND OF LARGE CORPORATIONS MAKING FUNDAMENTAL CHANGES TO THEIR COMPANY PENSIONS BY CANCELING THEIR FINAL SALARY SCHEMES FOR EXISTING MEMBERS.
FTSE 100 COMPANIES IN UK WITH TRADITIONAL PENSION PLANS IN 2009 REPORTED A COMBINED FUNDING DEFICIT OF 96 BILLION GBP...
ABOUT TWO-THIRDS OF AMERICAN WORKERS NOW BELIEVE THEY WILL HAVE TO DELAY THEIR RETIREMENT BY AT LEAST ONE YEAR, WITH 27% EXPECTING TO WORK AT LEAST FIVE YEARS LONGER THAN PLANNED BECAUSE OF THE DEBILITATING ECONOMY AND STOCK-MARKET LOSSES, ACCORDING TO A NEW SURVEY.