Sunday, October 11, 2009
It is not late to start your retirement planning
posted by Shawn Gao
When people are fifty or more years old, they are wondering whether they start their retirement saving too late.
One recent research by HSBC shows that only 13 percent of people around the world have already prepared for their retirement saving, and another 43 percent of people have undertaken some planning without clear mind of how much income they have from the plans.
Depending on the current situations, elder people have to deposit more than teenagers and adults. Since elder people have already passed their golden years of working, they need to consider more about their saving plans.
However, during the downturn economy years, financial advisors offer some special retirement plans for those elder people who didn't start their retirement savings early. It is fair that elder people need to expand their working years with enough saving s for another 15 years. Financial advisors suggest that elder people could be in self- employment or part- time in order to increase their income and expand working years. To build enough wealth to support their rest of lives need to set more time and meaningful amount of money.