Many individuals believe that they are doing the right thing by making contributions on a monthly basis to certain pension schemes. However do they actually know what’s happening to that money and how much they’ll get back when they plan to retire?
You may have thought about selling your personal pension plan by a financial advisor but are you really sure that it’s going to pay out the amount you need to live comfortably during retirement? However, some have a new vision for pensions. Some financial experts urge everyone to take control of their finances and shake off the false sense of retirement security.
When it comes to retirement, one of the most important questions to ask your self is the exact age you want to retire. Secondly, you also need to evaluate your expenses and decide how much money you will need every year. Finally, evaluate yourself at your retirement and know if your pension can sustain your golden years.
Providing financially for your retirement is YOUR responsibility. You need to make the right financial decisions and strong self discipline is you want to get a comfortable retirement.
Dan Kadlec posted an article at Time that will help you understand the huge financial threat to your financial security.
Read the full article here: http://time.com/money/4168633/retirement-huge-threat-security