A Pension Promise to Oneself

Laurence Articles

written by Stephen Sexauer and Laurence Siegel

Don’t have a pension? Don’t worry. Most people don’t. They will get to retire, and so will you.

“What you and almost everybody else do have is the ability to make a pension promise to yourself that is the economic equivalent of the promise that an employer could make. With your employer’s help, or possibly without it (it helps, but isn’t really required), you also have the ability to deliver on that promise. You will make pension payments to yourself from the moment you retire until the end of your life, or your spouse’s life, whichever comes later.”

“You don’t know that you have this ability, but you do. You are about to receive the basic components of a tool kit for making this happen, and over time you will receive the rest of the tool kit. The strategy for making this happen involves a lot of saving, but almost no risk. When you do face risk, you will have been provided with the tools necessary for managing it. You’ll be just fine.”

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