According to several experts, it seems baby boomers, or those who were born from the years 1946 to 1964, are not as confident with their retirement plans. A study supporting this claim suggests that only 27% of their respondents are sure they have enough money that will suffice for their needs after they stop working. They also said that only 6 out of 10 people have retirement plans, which is drastically lower compared to earlier surveys conducted last year and 2011.
2. According to several experts, it seems baby boomers, or those who were
born from the years 1946 to 1964, are
not as confident with their retirement
plans. A study supporting this claim
suggests that only 27% of their
respondents are sure they have
enough money that will suffice for
their needs after they stop working.
They also said that only 6 out of 10
people have retirement plans, which is
drastically lower compared to earlier
surveys conducted last year and 2011.
Because of this looming apprehension, many people still wonder how they
can save up once they decide to hang the gloves and join the group of
retirees in their society. While the most financial planners will probably
answer “as much as you can” ideally, people should set aside 10% to 15%
of their income as early as their 20’s or the moment they land a job.
One of the most important factors to consider also is the place where people
will plan to spend their remaining days as a retiree. Such issue is one of the
most sensitive that involves retirement as certain cultures avoid certain
practices. A good example of this is the idea of retirement homes. Despite
this however, due to better
understanding of retirement homes by
the public and the realization for such
need, many cultures are now slowly
accepting it.
In general, retirement homes serve as
the most practical option for retirees, as
these serve as a sanctuary where they
can interact with the same people their
age. Moreover, they do not have to worry about no one taking care of them
since they will be under the watchful eyes of professionals that will give
them the necessary medical treatment they need.
3. Preparing for the latter years of life is one of the most crucial endeavours
one must do. Because of this, it is important to possess the right mindset to
have sufficient funds that will last them throughout retirement.
Resources:
http://www.rdns.com.au/
http://money.cnn.com/retirement/guide/basics_basics.moneymag/index7.ht
m?iid=EL
https://au.finance.yahoo.com/news/baby-boomers-retirement-fears-grow-
185959776.html
