The road ahead lies before you, and requires navigation. In many cases, people neglect to plan ahead and take action to ensure they meet their retirement targets. Then, as they approach retirement, they feel pressured and are vulnerable to making rash decisions. Many expatriates, and others living internationally, may have limited or no access to state pension plans and are responsible for themselves.
Many national pension plans have funding deficits. Company pension plans vary in what they offer employees, for better or worse, but they are not guaranteed. At the end of the day, you have to ask yourself: what will my needs be, and where will the required money come from? The best solution is to lay everything out on the table, and make an honest assessment of what you’ll need and where it will come from. If you are on track to meet these needs, great! If there is a shortfall, the time to map out how to fill it is now. The earlier you start the better, obviously. First, the power of compounding will have more time to work its magic. Second, the portion of your monthly income that you’ll need to allocate to your retirement plan will be smaller. Third, the further you are from retirement age, the more aggressive you can afford to be with your investments. Bottom line, the most important part of retirement planning is to start! And Mount Equity Group is here to help.