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Building a golden nest egg for your retirement years

Gordon Brown, speaking recently in Scotland, said that there should be a national debate on raising the state pension age, and David Blunkett, Work and Pensions secretary, told the BBC News that a rise in the state pension age should be considered. The Pension Commission has already suggested that a mixture of higher taxes, larger savings and a higher retirement age could go some way to making sure that people will not be living in poverty in their old age. Apparently the ‘problem’ is that people are living longer, and the pension’s commission declares that more than 12 million people are not saving enough towards retirement. Since the government, and life insurance firms, didn't anticipate pensioners living so long, now they are saying that, in order to be able to afford to pay out on their pensions, they will have to work to at least the age of 70. At first sight this all looks rather bleak, but it’s not all bad news, because people who work longer, particularly in a job they enjoy, actually live longer. Many people think that if they retire early they will live longer, but researchers have disproved this theory.

In fact, those who stop working at 55 have nearly double the death rate of those who continue to work until they reach at least 65! Baroness Greengross, chief executive of the International Longevity Centre UK, has said Work is a huge part of this equation, and provides mental and physical activity, self-esteem, social interaction and income for many of us is vital for older people to stay mentally and physically active. So maybe we are all going to have to work for longer, and yet no one wants to be stuck in a job they hate for even more years than they had already anticipated. Luckily there are some happy alternatives. There's been quite an increase recently in people wanting to set up an e-commerce business with a view to building it up now, so that it will bring an income during their ‘retirement’ years. Usually customers have been planning on setting up an online shop to sell products or services connected with their interests or hobbies.

They're doing this with the intention of using the internet to make money for themselves, and their families, in an enjoyable way, and setting up something they will be able to continue with well into their old age. These days it is not nearly as expensive or difficult to set up an e-commerce website as it used to be. Getting a site that would let you sell your products or service online can be done quite quickly, and with the minimum of fuss, if you approach a company who has experience in setting up ecommerce websites. You do really need to seek professional help and advice with this though, as it’s not something a novice can do successfully by themselves. Making your later years ‘golden’ could be as simple as expanding your hobby and getting set up to sell related products or services online. With an uncertain future ahead, the security of a little extra income is sure to be very welcome indeed.


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