Retirement Planning And Peace Of Mind  

The only question most individuals aged 25 to 30 think about is why should they plan for retirement? It is very important to understand that we must take our retirement into our own hands in the first place. Retirement planning is the best way to save for the future.

The health factor:

Old age brings medical problems and increased health-care expenses. It is very difficult to cover medical expenses without your own nest egg. This may cause burden, especially if the health of your loved ones starts to deteriorate. An individual is in peace if he considers medical or long term care insurance for a peaceful and healthy future.

Lack of trust in pension and social security benefits:

Social security:

Government sponsored retirement programs are not very good for a peaceful and safe financial future. A study conducted by Stephen gross in 2005 revealed that there as been a significant reduction in the ratio of covered workers and the number of beneficiaries under the U.S. social security program over the past decades. There were 35 million workers paying into the security system with only 222,000 beneficiaries in 1940. The number of workers increased to 154.3 million in 2003, but the number of beneficiaries were only 47 million.

Pension systems:

Private pension plans are quite prone to shortcomings. When Enron was bankrupt, the employer-sponsored stock holdings were completely wiped out. Corporate collapses can result in shortcomings for pension plans. 

In such cases it is very important to go for perfect self-retirement plans which guarantee safety, security and peaceful future.

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