Glenn Ferguson
12-01-05, - 08:06 AM
By Glenn S. Ferguson
"You have everything you need to create the retirement you want. It's up to you to decide what to create." -Glenn
Recently as I read the editorial page of one of the local daily’s my attention was grabbed by the subject placed over a letter received -“A Pension increase is overdue for Retired Public Servants.” The writer lamented that a government is judged “by the way it treats the weak and afflicted in its nation... and that despite the cost of living increasing by 4% annually, yet the pension of retired public servants had not been increased for a number of years.” He also expressed that “some public service pensioners received less than $60.00 per week and that after years of dedicated service were now being discarded and poorly treated by the government.”
Now, I must emphasize that my use of this story is not intended to belittle the writer, because for him the pain and frustration that he is experiencing are very real, and I understand that; but to impress upon you the importance of taking your future very seriously so as not to continue this vicious cycle.
Five things you must know about your future:
1. You must understand that your older years will be different from what any other generations have experienced.
2. You must recognize that your future is an individual responsibility. You cannot depend on others to meet your needs in later life.
3. You must believe that planning your future really take minimal effort and will not add burdens to your already busy life but will guarantee the future you want.
4. You must recognize that taking any step forward will build momentum and create for you the greatest opportunities for accomplishing your retirement goals.
5. You must acknowledge that you have tremendous resource now that must be used to achieve your success in retirement.
While the government and your employers have a role to play, the ultimate responsibility for securing your future is yours. Therefore, you should become an active part of seeking out knowledge and information about retirement and ensuring that these parties do their appropriate part in helping you to achieve your retirement goals. However, you cannot wait until you retire, you must act now!
More than ever, a huge premium is being placed on you to develop the necessary skills and knowledge to plan and invest for a secure retirement. It is time you get religious about your situation and realize that your financial security is your own responsibility. Nobody else is going to do it for you. You are solely responsible and if it’s not done then it’s nobody’s fault but yours!
If you haven’t started planning already, it’s more critical than ever to start now. Start
by becoming involved in the process to reform National Insurance and the retirement benefit system in the Bahamas. It’s your future they’re talking about so shouldn’t you at least know what they are planning for you?
Your retirement income will really matter when you get there and if it’s not what you expect then it’s nobody’s fault but yours!
It is important for you to realize that life consist not only of today, when you are strong but tomorrow as well, when you may be weak! Therefore you should use these strong days to make sure you have a well-constructed financial house and retirement plans.
Money is the biggest retirement concern most people have, so having a clear picture of your finances will go a long way toward putting your mind at ease. The important components of this financial plan should not only be your employer and the government contributions but also your own individual savings and investments working hard for you!
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.
Remember retirement just seem 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.
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.
So get excited and interested in your financial and retirement planning because you cannot get any results until you decide to take action and start planning. Without planning you may be crying but I’m not sure anyone will be listening!
To help you we offer our report “The Six Mistakes You Don’t Want To Make About Retirement!” so just call us and get your copy. You will find that often, the first steps are simple, easy and relatively obvious. The key is to get started!
"It takes time to develop, grow and build the life you want. So give your retirement dreams the time they deserve and watch them become reality." Glenn
"You have everything you need to create the retirement you want. It's up to you to decide what to create." -Glenn
Recently as I read the editorial page of one of the local daily’s my attention was grabbed by the subject placed over a letter received -“A Pension increase is overdue for Retired Public Servants.” The writer lamented that a government is judged “by the way it treats the weak and afflicted in its nation... and that despite the cost of living increasing by 4% annually, yet the pension of retired public servants had not been increased for a number of years.” He also expressed that “some public service pensioners received less than $60.00 per week and that after years of dedicated service were now being discarded and poorly treated by the government.”
Now, I must emphasize that my use of this story is not intended to belittle the writer, because for him the pain and frustration that he is experiencing are very real, and I understand that; but to impress upon you the importance of taking your future very seriously so as not to continue this vicious cycle.
Five things you must know about your future:
1. You must understand that your older years will be different from what any other generations have experienced.
2. You must recognize that your future is an individual responsibility. You cannot depend on others to meet your needs in later life.
3. You must believe that planning your future really take minimal effort and will not add burdens to your already busy life but will guarantee the future you want.
4. You must recognize that taking any step forward will build momentum and create for you the greatest opportunities for accomplishing your retirement goals.
5. You must acknowledge that you have tremendous resource now that must be used to achieve your success in retirement.
While the government and your employers have a role to play, the ultimate responsibility for securing your future is yours. Therefore, you should become an active part of seeking out knowledge and information about retirement and ensuring that these parties do their appropriate part in helping you to achieve your retirement goals. However, you cannot wait until you retire, you must act now!
More than ever, a huge premium is being placed on you to develop the necessary skills and knowledge to plan and invest for a secure retirement. It is time you get religious about your situation and realize that your financial security is your own responsibility. Nobody else is going to do it for you. You are solely responsible and if it’s not done then it’s nobody’s fault but yours!
If you haven’t started planning already, it’s more critical than ever to start now. Start
by becoming involved in the process to reform National Insurance and the retirement benefit system in the Bahamas. It’s your future they’re talking about so shouldn’t you at least know what they are planning for you?
Your retirement income will really matter when you get there and if it’s not what you expect then it’s nobody’s fault but yours!
It is important for you to realize that life consist not only of today, when you are strong but tomorrow as well, when you may be weak! Therefore you should use these strong days to make sure you have a well-constructed financial house and retirement plans.
Money is the biggest retirement concern most people have, so having a clear picture of your finances will go a long way toward putting your mind at ease. The important components of this financial plan should not only be your employer and the government contributions but also your own individual savings and investments working hard for you!
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.
Remember retirement just seem 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.
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.
So get excited and interested in your financial and retirement planning because you cannot get any results until you decide to take action and start planning. Without planning you may be crying but I’m not sure anyone will be listening!
To help you we offer our report “The Six Mistakes You Don’t Want To Make About Retirement!” so just call us and get your copy. You will find that often, the first steps are simple, easy and relatively obvious. The key is to get started!
"It takes time to develop, grow and build the life you want. So give your retirement dreams the time they deserve and watch them become reality." Glenn