Which animal matches your retirment planning habits?
It might not be the light the world alive title that gets you clicking again and again but we like to offer you some different blog posts to all the boring offical ones.
So lets delve into animal traits and which one matches different appraoches to retirment planning.
Everyone knows how stubborn cats can be. They also know how to wind their humans up by sitting by the door demanding to be let out only to refuse to go out when the door is open.
As advisors we also know the cat planners. The people who keep saying they want to plan for their retirement but when the talk comes the decide that they have something else to do and the thing they said they wanted gets forgotten.
Turtles will travel to a beach to lay their eggs. They set the foundations to give the eggs the best chance to survive and then they head back off to the ocean hoping the eggs hatch and the babies can make their way to the sea. They have lots because the survival rate isn’t that great. Sorry turtles.
We are seeing more and more clients who are younger and may be working two jobs at a time doing what they need to do to get by, moving jobs every two – three years. They start a pension with the aim that that pension will then be left to mature on its own and hoping it will be what they need when they retire. Some of those pensions will do fine but others will be left to almost eat their own savings.
The Dinosaur – the ones who died and the ones who adapted
Some dinosaurs got to the point of extension with the asteroid and they were like well damn this is my time. I had no contingency for this happening. They died. Then there were the ones which survived! They managed to adapt to the situation and found ways to live on.
And then there are the human counterparts. The ones who do no planning for retirement and find that asteroid hitting and there is nothing they can do. But there are the others who see the asteroid approaching and manage to put in a last minute plan to avoid the worst situation and make it work.
Mice are well known for their ability to find the smallest of holes and begin to store their collections of food or to start gathering all their nesting materials. You think you’ve got a small family but when you pull back the dry wall you see a whole village has had the chance to grow with seven generations running around.
These are the pension savers who have one pension pot that they have steadily been putting money into each month for years. They kept on track of what they had and what they needed and they carried on letting all the work happen behind the dry wall.
Donkeys are hard workers. They plod along following a carrot not really knowing where they are walking or when they will get there but they do it anyway.
We see workers who have worked hard putting money into their pensions but they don’t really know how much they have or how much they will need for the retirement they want. Instead of stopping to check they simply carry on working.
The animal who carries everything on their back. It looks strong and safe but all it takes is an awry foot to bring everything crushing down.
These are the self employed workers who don’t know how to plan for a time when they don’t want to or can’t work any longer. Sometimes physical jobs can’t realistically be done to traditional retirement age and the boot of ill health comes crashing down without an adequate support system to see them through.
Wow who knew some of those animal comparrisons were going to be so brutal!
Let us know what animal you think you are or if we missed any other fun comparrisons.