Almost all of us dream of retiring early and still be young enough to enjoy it. After working your whole life you deserve to enjoy yourself. Unfortunately, the majority of us will not retire well and some won’t retire at all but it is no-ones fault but your own.
The reasons that most people will not retire at the level that they want to is due to:
Purchasing Inefficient Savings Plans
Lack of attention to their pensions
Not quantifying what they really need
Not adjusting to inflation and interest rate changes
Planning in the wrong currencies
The most common reason is purchasing in-efficient pension plans. Seduced by tax incentives, bonuses and potential guarantees, millions of investors end up making long term commitments to poor financial products. Empire helps their clients to ensure they will reach their goals by creating a financial map that accurately quantifies the client’s needs assuming varying rates of growth and inflation. This customized map is revisited every 6 months to ensure that the client is on track, in line with inflation and expected target rates of what needs to be done if the client is off track.
Empire does not provide long term savings products, we actually recommend that you don’t purchase these products. Long term savings plans are great for the financial advisor and for the financial institution but rarely are they good for the client. They are essentially inverted debt and if you do not see them through to the end or you require money early, penalties are to be paid! Think about it….you wouldn’t buy a car and keep it for 25 years would you? Every 5 years new more efficient models are created and it is the same in the financial markets.
So don’t marry your investments. Take a 5 year view and if your product is still the best product for you in 5 years, great, do another 5 years but if it is not and your needs change or you find something better and you will be free from an expensive divorce.