Recently, I came across interesting statistics on how long it’ll take for a person to accumulate enough to retire on, based on what percentage of his income is saved per time. The results were shocking, to say the least. You can get access to the entire research results here.
One of the things that jumped out at me is the statistic that if you only save 10% of your income, it will take you up to 51 years to save up enough to retire on. Amazing, isn’t it? And, a cause for worry for some.
Think about it…
Do you regularly save up to 10% of your income? If you do, you’ll need to do this consistently for 51 years (and find a way to get up to 5% post-inflation interest on your investment) before you can finally retire. Now, add 51 years to your current age and see whether you want to wait that long to finally be retired. Lol.
So, what really is retirement? At what age do you intend to retire? Or, could it be you are already retired and do not even know?
What is in your picture of retirement? And, what do you need to do TODAY to ensure that picture becomes your reality?
If nothing else, make plans to be at the LIMER Personal Finance Conference 3.0. Themed #MyLifeIn51Years, this edition of the conference is focused on Retirement Planning. With Keynote Speeches, Panel Discussions, Question/Answer sessions, Tea Break, Lunch, Exhibition and Networking opportunities, you will leave with a clear idea of what you need to do now to birth the retirement of your dreams.
Retirement is not what you start to plan for when you have only 5 years before you leave paid employment. That will simply be learning to cope rather than planning.
Plan when you are young and increase your chances at producing the future you desire.
Soon we will let you know who the regulatory bodies, Insurance expert, Techpreneur, Career/HR strategist, Health professional, International Finance expert, etc on our panel are.
In the meantime, kindly click here to pre-register.