Life expectancy has been increasing steadily and whilst most of us acknowledged we are living longer than before – the way we think about retirement hasn’t necessarily evolved with it. The effect of a longer life expectancy can disrupt and put a strain on your retirement plans.
Retirement planning can be complex, so regardless of the life stage you have arrived at, it's important to receive expert and professional advice on your retirement options and requirements.
It was surveyed that more than half residents in Hong Kong and Singapore found retirement planning stressful and about half do not have enough saved for retirement and expect family to care for them in their retirement years. In addition, one in eight of them believe they need to work past retirement age due to lack of savings1.
Without adequate financial planning and saving, many sacrifices in their twilight years will have to be made, both financially and emotionally. However stressful, a lack of financial preparation early in life can lead to more serious consequences nearer to their retirement.
It is also important to note that one of the greatest assets the younger generation has on its side when either investing or saving for the future, is time.
Whether you are new to retirement planning or need assistance in reviewing existing retirement planning strategies, we can help you make the most of the opportunities that exist. Considered and appropriate advice can make a huge difference to your future prosperity, so that you can be confident about your plans for the future.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and can fall as well as rise. You may get back less than you invested.
1 St. James's Place Asia Retirement and Wealth Planning Survey 2020, undertaken by Sandpiper Communications (1,019 Hong Kong respondents and 1,045 Singapore respondents)