It is very strange to see and even harder to explain that a pattern of mismanaged government pension funds seems to be a chronic disease punishing the Latin American region. We see it in Colombia, Argentina, Costa Rica and lately even in Nicaragua where the people have revolted in protests against the government’s proposed changes to try and “fix” the issue at hand.
The brutal truth for most countries in our region is this: There is not going to be enough money for our retirements. Let that sink in for a moment … unless something dramatical changes in the environment, there is not going to be enough money for your pension. Yeah…. sucks to be us right?
Pension funds are rapidly collapsing, in some cases like in the case of Costa Rica, the pension fund is rapidly “eating” the same interests it is supposed to be generating in favor of it. These interests are being used to keep the fund “alive” as it is rapidly collapsing. The government is urging to make policy changes to try and salvage it but the numbers simply don’t add up.
So what now? What options do we have in countries where we have spent our professional lives contributing to funds that are not going to take care of us?
The answer is simply: We have to take care of our retirement ourselves.
Luckily for us there are excellent options in the market that with small monthly savings we can secure a prosperous future. But here is the catch: Time is of the essence! Every day we choose not to save is money we are taking away from our future self. The government is not going to take care of us and probably our families won’t either (plus who wants to be problem for them!) we need to act now. You owe it to yourself.
Contact us now and let’s talk about retirement funds where you can secure your future.
You can do this!