Too many retirees may be facing a miserable existence, says Barbados Association of Retired Persons (BARP) president Marilyn Rice-Bowen.
This is why it is so important for people to plan early for their retirement, she said, adding BARP was there to help.
“We found it was absolutely important to lower the age so we can extend our offerings to the younger members of our community. Quite a few of our younger people don’t consider retirement because they figure it is a ways off. Now we can offer them retirement planning opportunities and heighten awareness – who better than us?
“The reason why we want to do this is because without adequate retirement planning in place, one’s senior years can be extremely miserable, particularly if one does not have good health.
“Things like mortgages and home repair can become a real burden upon retirement as you still pay house insurance and [there are cases] where some people have been forced to sell their properties because they can’t maintain them. Some people have no other choice but to then depend on Government social programmes in order to continue living,” she said. (CA)
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