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Back to the future: Are you prepared for retirement?

Imagine you have a time machine. Now you can travel into the future and see yourself in 10, 20 or even 30 years’ time. What do you see? What is your health like? Do you have the same relationships? What are your circumstances? Where are you living? And what do you wish you had done differently? It’s not easy to visualise, is it? In fact, for most people, it’s impossible.

After all, 20 years ago, could you have imagined yourself as you are today? The decisions and choices we make today have a huge bearing on our future. But visualising that future is hard. Experts say one of the biggest barriers to saving for retirement is the inability to picture ourselves in the future. A US study1 explored why people were failing to save enough for retirement. It concluded that, apart from financial barriers, it was because they felt disconnected from the individuals they would be in the future. For many, saving for retirement is like a choice between spending money today or giving it to a stranger years from now.

The time to start planning is now, investing for retirement often seems unnecessary – or even impossible – to those tackling life’s challenges. But with life expectancy increasing, this lack of forward planning is especially concerning. So start making plans now. Our team is on hand to give you advice. Your future self will thank you.

Call us today on Oakham 01572 759759 or Stamford 01780 437500 to arrange an informal meeting – at a time and a place to suit you. Or pop into one of our offices.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can, therefore, go down as well as up. You may get back less than you invested.

1 H. Ersner-Hershfield, J.N. Bailenson and L.L. Carstensen, Feeling more connected to your future self: Using immersive virtual reality to increase retirement saving, May 2008.