What type are you when it comes to approaching your retirement planning?
There are 5 different types of approaches towards retirement planning according to a HSBC research.
The first one is the strategic planner. This type starts early and strategically with saving for his retirement and most of the time this is, because they earn well (27%). The second type is the comfortably affluent (21%). They have financial plans in place while they reach their retirement age. The committed savers are the third type (20%) and they focus on saving instead of spending, however they still have obstacles on their path to retirement. The fourth type is the assured optimists. The people that don't think and plan the future, because they are optimistic about their future (16%). The last type is the concerned realists (17%). It's the more pragmatic and cautious person that doesn't like to take risk. They plan carefully and not impulsive.
In my professional experience I believe that the assured optimists type is much larger in Dubai than the average 16% coming out of the research. It's dangerous for your future to not plan ahead when you are not the next Mark Zuckerberg or Elon Musk. I have been surprised by the strategic planners tactics to make money and the amount of money committed savers manage to put aside.
Source picture: ‘Reproduced with permission from The Future of RetirementGenerations and journeys, published in 2016 by HSBCHoldings plc.’
Posted on Tue, June 6, 2017
by Simon Snelder filed under