Bridge over ocean
1 November 2013 Financial Analysts Journal Volume 69, Issue 6

A Pension Promise to Oneself

  1. Stephen C. Sexauer
  2. Laurence B. Siegel

Saving for retirement is not hopeless. Well-run DB pension plans provided retirement income for generations. When plans failed, it is because they broke the rules. The same applies to individuals. By understanding a set of rules on how much to save and how to invest and then sticking to those rules—that is, by making a pension promise to oneself—retirement income goals can be met. Fulfilling this promise requires more saving than most people are accustomed to.

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