Changes on the Horizon

Pink Piggy Bank On Top Of A Pile Of One Dollar Bills

Last week I referred to the so-called “Retirement Crisis” around the world.

I said I would start to research it and if I got some good data and so forth then I’d maybe write an article or two on the subject. I did start to look.

The thing that has surprised me most, thus far, is that I was probably looking at it from the retiree perspective, almost exclusively. Nothing wrong with that certainly, but I don’t think I had fully appreciated the extent of the problem from a national perspective (or macro-economic if you prefer).

Statistics from all round the world show clearly that the two mainstream retirement income providers – State Pension and Private (or work-related) Pensions – have changed dramatically over the last few years, and will change so much further in years to come. And not changed for the better I hasten to add.

I won’t go into country-by-country analysis here, but suffice to say, that if you have a pre-conceived belief that your pension accumulations over the last 20/30 years or more, will see you through, then think again.

I am not trying to be alarmist but please take a long, hard look at the condition of your pensions and their ability to pay what you believe they will pay. Most young people probably never look at, far less understand, how their pensions work – “That’s for old people, and I’m not old”. “Yeah, but one day …..”

Financial meltdowns of the last few years + low interest rates + inflation all combine + companies and Governments tightening an already very tight belt, are all issues you should be cognizant of … not separately, but collectively.

And did I mention that the aging population is growing steadily. In other words, the pot of money is becoming more and more diluted as each year goes by. Part-time work may migrate from being “extra pocket money” to “must have.”  The demographic dynamic is expanding and accelerating, everywhere.

Ok, enough of that….(just think about it please….ok…?)

I noticed this week that David Beckham is starting a new football (ok, ok soccer) team in Miami, Florida. Good for him. He’s actually a fairly decent bloke to be honest. Mind you, watching football in 100 degree weather could be a challenge, far less playing in it.

And lastly, I watched last week’s Superbowl. I actually stayed up until the very end (way past my bedtime !!). The game was enjoyable (unless you’re a Broncos fan) and everyone said the half-time show was brilliant. There was some guy from Mars performing. So, it turns out that two people, just two, thought it was terrible …… me and Paul McCartney who was in the crowd at the game. I am sure he must have been sitting there cringing at it. “This bunch does not Please, Please Me at all”, he is rumored to have said. Paul reads my blog, so if I’m wrong mate, let me know.

That’s it  !!

Have a nice weekend wherever you are.

Bye, Bill

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Don’t take yourself so seriously. No one else does.

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One response to “Changes on the Horizon

  1. What you have said are true..most of the retirees have not prepared for day of retirement and old age. Somehow when one is younger..retirement and old age is a far distant reality and most will say lets deal with it when we get there. When one is young that is the best time to prepare for old age and retirement. A secure financial future when one is in his/her golden years helps make life comfortable and happy. Insecurity is what kills because of worry and stress

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