The Heart of Retirement
If you are like many business owners—and their employees—you are a little worried about being financially ready for retirement. It’s only natural. Retirement plan design can be a complex process.
As Chief Visionary Officer at Retirement Plan Concepts & Services, Inc., I believe in taking a long hard look at retirement benefits, a topic that is often overlooked in company benefit packages. It can become a second thought, a stepchild to other benefits, when it should be an equal priority. Helping employees ready themselves for retirement means helping them save for their futures so they can retire on their own terms. This is at least as important as healthcare benefits, prescription services, vacation days, and other short-term benefit offerings companies use to attract and retain the right employees.
Often, it comes down to the brain and the heart. Educating employees about the importance of saving for their own future is a key component of retirement plan design that companies (and their current advisors) often forget. Employees have to understand the facts, so they can then use their hearts to decide how they and their families can best benefit from the company retirement plan, choosing how they want to cover their living expenses today while providing for themselves and their families for the decades to come in retirement.