In a recent article entitled Business Owners and Retirement Planning, on the Generational Equity web site, a startling statistic was revealed – over 40% of business owners have no retirement plans in place.
In fact, according to anecdotal evidence, this isn’t all that rare. Even employees have done litle more than the bare minimum to prepare for a long and happy retirement.
The basic facts are simple enough to appreciate. We are living longer (thanks to medical advances) and mutual retirement schemes are becoming less stable (thanks to bankers greed.)
There are likely to be a number of bankers who disagree with that last statement; but they’re probably not among the many, many people who lost their entire retirement fund in the recent financial crisis.
It’s time, perhaps, to think about planning for oneself.
In fact, the UK government recently enacted a scheme whereby people could choose to do just that – kind of.
Reading between the lines, it seems as if, while giving earners a choice…