Day 17 / 31 Plan your Pension

Day 17: Plan your Pension
Day 17: Plan your Pension
Day 17: Plan your Pension

Although it is nearly impossible to predict how your pension will develop over time and how much pension schemes will change, especially if you are still many years, if not decades, away from your retirement, calculating your pension regularly and setting pension goals is a key habit to develop and establish if you do not want to be taken by surprise when you finally get to retirement age and start needing to rely on these payments to replace your regular income.

For today you are going to take control over your pension and start putting in a plan to make sure that by the time you retire you have enough money coming in. Continue reading “Day 17 / 31 Plan your Pension”

Step 45: Calculate your Desired Pension

Step 45: Calculate your desired pension
Step 45: Calculate your desired pension

Although it is nearly impossible to predict how your pension will develop over time and how much pension schemes will change, especially if you are still many years, if not decades, away from your retirement, calculating your pension regularly and setting pension goals is a key habit to develop and establish if you don’t want to be taken by surprise when you finally get to retirement age and start needing to rely on your pension.

It’s easy to think that our pensions will work their way out for us and that we will be able to retire comfortably after 40 or 45 or even 50 years of working. Yet with fewer and fewer young people carrying the burden of paying for an ever-increasing aging population, not just in numbers but also in years living after retirement as saw in step 42, we don’t know exactly how the pensions will develop. Already many countries are increasing retirement age and this might happen again in a decade a two.  Continue reading “Step 45: Calculate your Desired Pension”