Addressing The Mysteries Of Retirement Planning - Meristem

Thursday, March 14, 2019    07.35AM / By Meristem / Header Image Credits: Legal Awareness for Seniors


Every Facets of life come with their own mysteries, some we understand, others we seek knowledge or make some understanding of in our own way. Retirement planning like every other thing in life comes with its fair share of mysteries and contained below is knowledge to help you understand it better.


1: Is It too late/early for me to begin retirement planning?

No time is too early or too late to start retirement planning. Contribution towards retirement should start once you have earned your first academic degree. This is because it gives an individual a fair view of his future targets; how hard he needs to work to get it and the right career path to follow. It also provides one more time to contribute to, grow and build the retirement savings account with pleasure and less pressure through exponential compounding. The bricks of the imaginary castles are laid, and individuals are focused on grabbing every opportunity window.

However, where the individual is in their 40s and 50s, they should also invest because that is when earnings are at their peak. They should get help to invest prudently, and plan for life in retirement. This is because even those retiring at age 60 or 65 may still live an additional 20 years on average. Depending upon resources, that’s enough time for wise investments to grow.

2: What should be my retirement goal?

Wrapping one’s head around what you want or need at retirement can be overwhelming. Asking questions including; when do I retire? what lifestyle do I live at retirement? what kind of income will I need and what kind of income do I expect in retirement? are pertinent. Although it might seem quite hard to develop a plan without a goal; you don’t need perfectly detailed goals to get started. Your goals can evolve as your plan develops and circumstances change. The trick is to start with a simple goal such as maintaining your current lifestyle at retirement; and then try to minimize risks associated with retirements such as health risk, longevity risk and investment risks.  

3: Retirement planning seems intimidating, and I don’t think I can do it.

Retirement planning involves discussing certain difficult topics of personal planning like death, prudent spending and aggressive saving & growth which people most times want to avoid. They literally get overwhelmed and simply do nothing with the hope that one day, everything will fall in place and get itself sorted out.

In order to plan for the future, it is required that we face reality and break down the complex process into smaller pieces. The easiest way is by putting together the borders first. Remember the fun in mysteries is not in knowing how to complete it but taking one step at a time and building along the way. Everyone can, only if you try not to do everything at once.

4: I am worried about whether I am right in my choice of financial decisions.

The fear of being right or wrong in your financial
decisions can be alienated by engaging a professional or a financial advisor who will guide you through the intricacies of retirement planning. You should also ask the right questions that will guide you to the right answers.

Take advantage of our professional expertise towards planning your desired retirement lifestyle.


Simply send a mail to, call 01- 4488260 or reach out to us on social media (Facebook, Twitter & Instagram) via @meristemng



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For Further Reading:

Taking The Mystery Out Of Retirement Planning - US Department of Labour



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