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WRITING YOUR OWN RETIREMENT SAVINGS PLAN

Everyone contemplating retirement whether young or old would like answers to the following questions.

  1. Do I know what I don’t know about retirement saving?
  2. Who can I trust with my money?
  3. How do I choose the right pension product for my retirement?
  4. Am I saving enough for my retirement?
  5. How much money will be enough for me to retire on?
  6. When can I afford to retire?
  7. How long will my money last after I retire?
  8. What living standard can I afford in retirement?
  9. How will I cope with inflation in retirement?
  10. Should I worry about investment costs?

The first three questions are more quality than quantity but the rest need calculation.  And that calculation needs to accurate sensible and understandable to the very people who intend to retire.  We believe we have that system for you.  (Click here for an explanation of how the traditional calculators work and how accurate they are).

Why a calculator?  Why not just a simple plan?  No plan can be effective without objective goals (or targets) and because we are looking at monetary value we need to calculate these goals so that they can be used to measure progress.  The problem is that projecting numbers in the future is meaningless because neither inflation rates nor investment growth rates can be predicted.

We believe that the only numbers you can be sure of are values as at today.  Our calculations are all in present value and we teach you how to review actual numbers every year.  No guesses, no assumptions.  We help you establish the relationship between what you live on today [your existing living standard] and the amount of income you would have if you retired today, and work from now to retirement to improve that ratio.

Its simpler than it sounds, and we can help you see, if we are given correct figures, whether you are saving enough.  Its quick and once you have done the initial work it is a tool that’ll serve you for the rest of your life up to retirement.

Writing your plan

Learn how to write your plan in a group of around twelve people

In the group you are shown how to write a plan and then each person is guided in writing his, or her, own plan by the facilitator.

Schedule a one-on-one session with a counsellor who will set your plan up with you.

Have the undivided attention of a facilitator to write up your plan.