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Columns : Investing in You - Glenn S. Ferguson Last Updated: Feb 6, 2017 - 2:32:04 PM


Retirement - Say What, Retirement?
By Glenn S. Ferguson
May 4, 2010 - 2:22:48 PM

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Recently, I read a report by the Employee Benefit Research Institute (EBRI) and the American Savings Education Council (ASEC) which shows the findings of an annual survey they do to determine the attitudes of working and retired Americans about retirement.



What struck me about the results of this survey was how many persons are not planning properly and seem disconnected from one of the most important financial issues they face - retirement.



The study showed that only a small percentage of workers are even approaching the retirement planning process with any realistic plan so that they do not end up in poverty.

The finding from the Retirement Confidence Survey was that 63% of non-retired respondents have no real understanding of what is required to fund a secure retirement having never calculated the savings and other income necessary.

Similarly, for the minority who had made an attempt at retirement funding calculations many used inaccurate methods and assumptions possibly creating unreliable results.



Then I thought for a moment about our own situation here in the Bahamas; if the Americans are so disconnected from their retirement planning, what about us? If I were to ask you about your own plans for retirement your response to me would probably be “Say What, Retirement?”  

Retirement just seem so far in the future. If you are 45 years old today and plan to retire at age 65 that’s 20 years away and we just don’t seem to think that far in advance.

That is another observation that was made “that retirement exists in a time frame that is so far in the future that most people really do not have a solid grasp of the impact of current conditions on their retirement plans” and how that may effect them looking 20 or 30 years out into the future.

But twenty years is not a lot of time. Think back on when you were in primary school wishing you were an adult and the dreams you had for yourself. To me it seems like yesterday, that is how quickly those twenty years will go by! 

I remember when I considered someone forty-five a very old person and didn’t think I’d ever reach that age but I have. I am sure you could also relate to similar experiences.

However, the only persons thinking about retirement are government workers who are counting down the days to when they would have accumulated enough service to retire and employees of financial services companies for whom it is a result of their employment.  

And it would be surprising to see how many of them have actually done any retirement planning for themselves’!

How about you? What have you done about your retirement?

We all yearn for the day when we will be free to set our own schedule and enjoy the life  you always wanted to do.  But we have done very little about preparing ourselves for this time.

Thinking about the future always makes you a bit apprehensive because of the uncertainties but you can reduce your fears by taking realistic steps today towards preparing for the time when you will retire because it is just a matter of time.

While money is the biggest retirement concern most people have, it is really only one of the five benefits provided by work. And ensuring that you have the other four is paramount to you successfully transitioning to retirement - As Retirement has killed more  people than hard work ever will.

But you cannot get any results until you decide to take action and start planning.  And the upcoming  "Strategies For Achieving A Comfortable Retirement - Yours" on May 20, 2010 at Superclub Breezes maybe just the jump start you need to improve the quality of your retirement!

And you can also use this Free Report to Rescue Your Retirement 

Copyright © 2010 - Glenn S. Ferguson

Glenn Ferguson is a Speaker, Coach and Syndicated Writer, helping you to painlessly take control of your money to create wealth for you and your family. Email to: glenn@financialcoachingwithglenn.com  Web site: www.financialcoachingwithglenn.com



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