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"These blogposts are a reflection of my personal journey to understanding how developing this financial education can improve the lives of my family and those whom I work with".
Raymond E. Lee
Raymond E. Lee
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More than two thirds of people of working age fear that they will run out of money during their retirement, according to a new commissioned report. The global economic downturn has made it even harder for people to put money aside, with 40 per cent saving less for their retirement since the downturn, the report said. The Future of Retirement A balancing act is the latest in a series of reports providing insights into the issues associated with ageing populations and increasing life expectancy around the world. Almost two in five people of working age surveyed were not saving for retirement at all but while retirees stressed the importance of planning early, almost two in five people of working age surveyed were not saving for retirement at all. Many people had cut their levels of retirement saving since the economic downturn. More than 80 per cent said that unexpected events had made it significantly harder for them to set money aside. For some, this was because they had lost their job or seen their income fall. For others, it was because a life-changing event such as an accident or illness had stopped them or their spouse from working. One in ten people of working age today thought that they would never be able to retire fully from paid employment. Saving in small denomination gold bullion 999.99% pure gold bullion is safe and affordable for everyone 100% Free Gold Savings Accounts . Karatbars International GmbH Open Your Free Account ![]() The advice from those who have already retired is clear: it literally pays to start planning early. Retirees around the world choose a number of ways to fund their retirement.
Choosing how to save or what to invest in is only part of the challenge. Many people find it difficult to estimate how much they will need to fulfil their hopes and ambitions in retirement. Around 30 per cent of retirees say that they do not know how much they need to save. In Argentina 2001, many suffered losses of more than 75% of their life savings when the country defaulted on its debt, today people are still wary of banking institutes and the only viable means of savings is the purchase of USD on the "blue dollar" market. The amount will vary significantly from person to person. Some will spend money on healthcare, support other family members or treat their grandchildren. Some will aspire to use their retirement to fulfil lifelong ambitions – whether it be to learn a new skill, support a charity or travel the world. For 30-year-olds, the end of their working life might seem a very long time away. But even a small amount saved now can increase their chances of enjoying a comfortable, fulfilling retirement. ![]() Parts of this page has been sourced via the report of Charlie Nunn |
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