Portfolio Manager Talks About Retirement Savings At SACPA
LETHBRIDGE - Portfolio Manager Shawn Hass was the guest speaker at SACPA on Thursday,
talking about investments, pensions and retirement.
He says retirement
saving numbers are down considerably over the last few years and younger people
are putting in less money than in the past. "You've had a war generation and a
savings generation that's came and gone and now we're starting to see a trend
where young people today don't have the savings habits, they don't have the
discipline, they're not starting early, and their expenses are, in most cases,
much greater than their incomes at this present time, so it's a real area of
Hass also feels that government pension plans are probably not enough to rely
on. He says "the guideline is that you usually need about 50 to 70 percent of
your pre-retirement income when you go into retirement and for most people the
government benefits will not cover that, so you're going to have to be relying
on yourself to bridge the gap."
Hass adds it's important to manage what your expectations are for going into
retirement and consider what your expenses might be and feels it's never too
late to start saving.
Posted on Thursday, January 30, 2014 at 3/11/2014 4:11:27 PM
Source: Tristan Tuckett - Country 95 News