Spencer Lodge MD at Fund Advisers Dubai on Retirement Facts.
A man who retires at age 65 can expect to live a further 19 years in retirement on average. A female at age 65 has 22 years left. This means that you could potentially spend 25% to 30% of your life in retirement and will therefore need a substantial fund to support yourself. According to recent figures, individuals aged between 25 and 44 are saving only about one third of the amount that they should be in order to support their current lifestyle in retirement. In countries other than the UK, people are required by law to make sure that their pension provisions will meet their needs in order to live comfortably, but the UK are
behind in this thinking.
A good, well constructed personal offshore retirement plan should allow you to do
the following:
• Reduce or increase contributions — usually after an initial period of
about two years.
• Switch investments between different funds to respond to changes in the
market, without penalties
• Have the option of retiring when you choose to.
• Allow you access to what you have invested, after an initial period.
• Be realistic about how much you should be contributing.
• Provide you with regular status checks to ensure that your prospective
plan is suitable for your individual requirements.
To make sure that your pension covers you for your retirement lifestyle you
would be wise to seek advice from a financial consultant who specialises in
retirement planning. It is essential that you explore all avenues available so that
you can live comfortably in your retirement years.
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| Spencer Lodge |
behind in this thinking.
A good, well constructed personal offshore retirement plan should allow you to do
the following:
• Reduce or increase contributions — usually after an initial period of
about two years.
• Switch investments between different funds to respond to changes in the
market, without penalties
• Have the option of retiring when you choose to.
• Allow you access to what you have invested, after an initial period.
• Be realistic about how much you should be contributing.
• Provide you with regular status checks to ensure that your prospective
plan is suitable for your individual requirements.
To make sure that your pension covers you for your retirement lifestyle you
would be wise to seek advice from a financial consultant who specialises in
retirement planning. It is essential that you explore all avenues available so that
you can live comfortably in your retirement years.
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