Why put your money in retirement plans?
With current advances (not to mention future ones) in technology and medicine, we can definitely expect to live longer when we retire.
While that might seem like the best thing ever to some of us, our pension and retirement savings may need to get us through additional years. That means investing as much as you can for your retirement, as soon as you can. On the upside, you should be relatively debt-free (no car or bond repayments) but on the downside, you do need to take extra care of your health.
You’ve been preparing throughout your working life, and the time to enjoy your retirement is finally here. Avoid costly mistakes with your retirement savings and make sure your money continues to grow while you receive a regular retirement income.
Now is the time to make smart decisions about how to make your retirement savings work for you post-retirement. Take charge and make sure that you receive a monthly income so that you can maintain the life you’ve become accustomed to, well into retirement.
Are you ready to retire?
- What are your sources of income?
- How much income do you need?
- How long do you think you need your income to last?
If you’re not ready to retire yet, take steps now, start saving and investing for retirement with a tax-efficient retirement annuity, so you can maintain your standard of living after you retire.
Ready to re-invest and grow your savings? Give your investments momentum. Invest with confidence, grow your savings with lump sum investments and receive a regular income after you retire.
The longer you keep your money invested, the more money it will make for you. That’s why compounding is called the eighth wonder of the world.
What will it be like not to have the certainty of a paycheck or the income from your business every month? And will you be able to maintain your standard of living once that happens?
Benefits of saving money for retirement
Your decision to start saving and investing for your retirement is possibly one of the most important you’ll ever make.
By planning for your retirement today, you can maintain your standard of living in your retirement years. You want to be financially independent when you retire.
It is possible to have enough money to afford the lifestyle you’re used to, and be able to choose how and where you want live.
When should you start saving for retirement?
Now is the best time. Start early, and save every month. Your financial adviser will show you how you can benefit from compound growth if you start saving and investing from the beginning of your career, compared to people who leave it until later.
The habit of putting money away every month will empower you throughout your life’s journey.
Find a financial adviser near you who can look at your circumstances and help you decide how much you need to save, and what the most suitable investment options are.
- Set realistic goals.
- Craft a plan to achieve them.
- Stick to your plan.