75 Front Street, Hamilton HM 12 - Phone: +1 441 2963600 - Fax: +1 441 2956209 - E-mail: info@fmgroup.bm - Mailing Address: P.O. Box HM 836, Hamilton HM CX, Bermuda

Episode 12- Saving Extra for Retirement

It’s never too early to start

Saving extra for retirement is so important and it’s never too early to start. I often have conversations around this topic with my clients, and here are three of the primary discussions that we have:

Emergencies happen to us all, and contributing into a plan that allows you access to your voluntary contributions if an emergency arises is something to consider. I do advise my clients that should they need to access their funds prior to retirement, to replace what they have “borrowed” from themselves when they can. This is important in order to be able to continue taking advantage of the opportunity for long term investment growth.

Next, how about achieving your retirement goal sooner than originally expected? Wouldn’t it be fantastic to work because you want to and not because you have to? Making the commitment to set money aside for your own retirement is certainly a decision that not only your future self will thank you for, but it could also afford you a more enjoyable retirement. Whether that means travelling the world like you’d always dreamed of but never had the time to do, or spending your time with loved ones. After all, your golden years are supposed to be the best time of your life right?

Lastly, if you are interested in setting aside funds for your retirement, but you’re not necessarily happy with your current pension provider or perhaps you would like to diversify your investments, why not consider opening an individual pension plan? At Freisenbruch, we offer a Personal Retirement Plan which is a supplemental vehicle for retirement. Our PRP allows you the flexibility to contribute whatever whenever you like, along with other plan benefits. Alternatively, if you are happy with your current provider, you can speak with your employer about voluntary contributions through payroll deduction.

Danielle Pacheco is a Pension Sales Advisor at Freisenbruch Insurance Services. If you would like any further details please contact her at dpacheco@fmgroup.bm or call 294-4660.

Website & content Copyright © Freisenbruch. All rights reserved. Terms and Conditions