If so, you're not alone. This article explains what many people have done to secure their pension income options, and leave them financially secure in their retirement.
I remember back in 1992 when my career in the Police began. As new probationary police officers we all had the talk from the pension options officer who explained the benefits of a police pension. He waved the sign up forms in front of us and we all duly signed up.
The deductions at that time were 11% but the benefits of the pension, and the pension income was excellent, if I had stayed in the police, I could have retired at 48 had a comparatively large commutation cash payout and a two-thirds monthly wage income.
I remember talking to many of my colleagues in the police nearing retirement, asking them how long they had left before they retired – the usual reply was –
“One year, three months, two days and thirty seconds..!”
As the years went by there were lots of retirement parties, and the statistics on retirement were interesting…
The average life span for retiring officers was seven years, some returned to work as civilian officers the following Monday morning, while others started their own businesses or found other employment.
Essentially, retirement wasn't the all consuming bed of feathers that many had been waiting for 30 years. The initial commutation cash payout for a Constable was around £80,000 ($120,000) with a monthly income around £600 ($900).
When you take into consideration paying off a mortgage, funding the daughter's wedding, university education fees, and buying those retirement gifts you promised yourself, you can see why many retired officers continue to keep working.
The chart below shows how much money is needed in order to return a particular monthly income level.
Pension Income and the Financial Crisis
Back in 2008 everyone felt the breeze of the disastrous financial crisis, the ripple effect of which was felt by government and service personnel, in particular the devastating effect it had on their pensions.
A police colleague of mine who joined a few months after me, now has to work an additional five years to get his reduced benefit police pension
A firefighter friend of mine has to do the same, teachers, council workers, medical staff have all been devastated but have no choice to carry on with jobs they have to do in order to get any pension provision at all.
Pensions are changing, and more people are becoming confused about what pensions annuities and pension drawdowns are, and how much tax they'll have to pay in retirement.
Essentially pension changes mean that you'll end up with less money and may not have enough money in retirement if you don't do something about it right now.
The Pension Income Statistics
The fact is that for many years pensions have always been a growing and increasingly unstable financial instrument, as people are living longer and fewer people are willing to pay into a pension scheme and entrust their financial future to other people.
So what to the statistics say about people in retirement?
The result is that retirement and dependency on a pensionable income is causing more financial uncertainty and instability to an increasing number of people –
The question is how to rectify the situation…?
The Pension Income Solution
Passive income is income earned that is independent of your own efforts. Obviously there's an initial time and money investment like buying and renting property, but once the property is rented to tenants the income is deemed as passive or non-earned income.
- Stock Market
- Internet Business
For those that know what they're doing with financial instruments, the stock market has a lot of opportunities to earn an income, and indeed the potential to lose too. It would be fair to say that if you can earn a good living trading the stock market, then you may have sufficient knowledge to provide adequate pension income provision.
The solution that many retired and people approaching retirement are turning to boost their pension income and secure a passive income-solution is the Internet.
From all the different people I speak to, many people today either have an Internet business, have thought about starting one but are not sure where to start, or they know someone who has an Internet business, whereas a few years ago owning an Internet business was much less understood.
Developing an Internet business a few years ago was deemed something for the brave and technically savvy person to undertake, however as more people are using the Internet in their normal day-to-day lives the Internet has become the most natural vehicle for people to start and develop a business if people get the proper help and guidance they need, from people they know they can trust and can learn from.
How To Boost Your Pension Income & Financial Security
Now if you log onto the Internet and begin searching for Internet business opportunities, then you'll be bombarded with all kinds of offers, business models and information that will very easily overwhelm and confuse you, which is when most people often nod their head in dismay and turn off their computers.
What was lacking for people just starting an Internet business was simply, a real person to talk to on the phone.
Not an automated set of videos, not a few emails, but a real one-on-one person to person chat where all your questions get answered and you can move on and develop your business with certainty and clarity rather than being confused and overwhelmed.
Below are three videos of ordinary people successfully using the Internet to develop incomes because they had a real person to talk to.
Sally Olsen – Retired Teacher
Sally was a teacher and explains about a lack of pension income provision and financial security with her teaching pension. She took the 21 Step Coaching Program and began to get results and has developed a secure Internet business.
Mark Prosser – Retired Accountant
Mark is from Manchester in the UK (just down the road from me!) He had lots of experience with offline businesses, but no experience at all building Internet businesses, so he started from scratch, learning from his coach while enjoying travel and the Internet lifestyle.
Chris & Susan Beesley – London UK
Chris and Susan are former accountants & consultants who had very little free time to themselves in their traditional business. They began researching alternative ways to generate an income on the Internet. Since beginning their journey with the 21 Step Coaching Program they have generated over $100,000 within 12 months. Of course not all results are typical, but if you learn the business and apply what you've learned with the Coaching, anything is possible…
Taking The First Step
The people in the videos above are just a small handful of the many thousands of people around the world that have successfully boosted their pension income options by learning from the 21 step coaching program.
If it's more free-time you're looking for, financial security or having the ability to travel around the world then get started with the 21 step Coaching Program today, completely risk free & no obligation.