"No one would have remembered the Good Samaritan if he only had good intentions"- unknown

November was a very busy month with activities that were certainly eye openers for me.

Firstly, November was "International Caregivers Month" and in recognition of this event, The Kingdor National Parkinson Foundation held a one-day conference under the theme "Caring for the Caregivers" which focused on providing support for those who care for aging or infirmed individuals.

This session opened my eyes to the pronounced need for a comprehensive care and support program for seniors inclusive of housing facilities. A sentiment also expressed by the Prime Minister on the weekend as he attended an event at the home named in honor of his mother.
Secondly, November included world "Diabetes Day" a time when we focus on the disease most Bahamian refer to as “Sugar.” 

Again, I was alarmed at not only the number of Bahamians affected by the disease but those who because of their current life style are likely to develop this disease. Then the words of Dr. Robin Roberts echoed in my ear  "Good Health Is No Accident!"

November was the month for giving thanks, “Harvest Thanksgiving!” – I was fortunate to share with the employees of the Broadcasting Corporation as they celebrated their 14 Th Annual Thanksgiving Service. And as usual, they invited residents from the various senior citizen homes to participate in a thanksgiving luncheon.

This gave me an opportunity again to interact with a number of seniors and reflect on the words of Sir Clement Maynard when he said, "No Matter How You Play The Game….Family Is Important." 

And November also was the month that the Social Reform Commission continued their town meetings on the proposed changes to The National Insurance and Social Security benefits.  

All of these events revealed something what I had known all along - Bahamians are not planning for their retirement years. But the jolt for me was the far-reaching consequences of not planning. This simple inaction will have catastrophic consequences on our social infrastructure if we do not start to correct it today!

And this correction requires the action of everyone - It takes the government, it takes the social organizations, it takes the churches, it takes the schools, it takes the employers and yes it takes you.

Start now to plan for your future

This sounds simple but very few of us do it. We save for vacation and even Christmas shopping but are very reluctant to consider retirement and the special care or services that you may need in the future. We have to accept the fact that we are living longer and that in our changing society; the majority of us will need to ensure that we provide for ourselves.

Think Long Term

Now is the time to understand the systems that will be needed. Housing will be an issue; therefore, plans need to include the possible transition to housing facility when you are no longer able to live on you own. The best time to leave the family home if you cannot afford in home nursing care is when you can still walk out of it but you must have some place to go!

According to the Social Reform Commission nearly two-thirds of Bahamians do not have a plan for "paying themselves" in retirement and from widespread public comments.

I would suggest that the same numbers do not have a high level of confidence that they will be able to receive retirement income from The National Insurance Board.

This ongoing public debates around National Insurance and social security further underscore the need for individuals to not only save, but to build their own plans for their retirement.

While saving is good, having a plan for saving for retirement is not enough – and thinking so would be a serious planning deficit.

We need to focus on thoughtfully planning how we intent to live out our retirement years.

Don’t you deserve a golden retirement?

Every working man and woman Must Take Action To Build and Safeguard his or her Own Retirement. You must plan for tomorrow—today!

Focus beyond just saving to a more comprehensive planning

Getting what you want out of retirement planning starts with knowing what you want out of retirement. Because until you know what you want then you wouldn’t know how to achieve it!

Expecting life to just present you with what you desire or what’s best has resulted in most of us putting our lives on automatic pilot! But it's time to stop and think about it. Life does not just happen. The more responsibility you take over your life, the richer your life becomes.

Only when you create a concrete plan and take the necessary action will you be able to control what happens in your life. Think about it, how many persons do you know who have had very successful careers, made lots of money and today after working all their lives have nothing to show for it.

Life should be an accumulation of experiences and rewards that enable us to ride out into the sunset with satisfaction and dignity. Many people simply drift through life, never taking the time to consciously choose what they want.

Once you know what you want, then focus on thoughtfully planning how to best generate the income you will need for this time of your life. The best way to start is by knowing what you want out of retirement and then putting a plan in place to pay yourself first.

Be your own ‘boss’ when it comes to your retirement: pay yourself first and save; second, plan carefully and early enough so you can keep paying yourself and provide yourself withthe best retirement paycheck possible.

"How different our lives are when we really know what is deeply important to us, and keeping that picture in mind, we manage ourselves each day to be and to do what really matters most."-– Stephen Covey

Copyright 2001 - 2009 - Glenn S. Ferguson