The Social Development Department is encouraging persons as young as 30 years of age to begin planning for retirement.

The department is hosting an aging enrichment seminar titled: “Mapping Your Retirement”, on Thursday, April 16 at 5:30 p.m. in the Red Cross Conference Room.

The seminar will be facilitated by Dr. Melvin A. Turnbull. He said that it is prudent to start early to develop a savings plan to support your financial needs in your retirement years.

“It is never too early to save for retirement.  The sooner you begin to develop a consistent pattern of saving, the greater the potential for you to reach the amount needed to live comfortably in retirement,” Dr. Turnbull said.

Persons attending the seminar can expect to be informed and equipped with the necessary skills to plan for retirement. They will also be provided with incentives to implement or enhance their retirement plan. 

“We will definitely highlight the importance of budgeting.  We will teach you how to tell your money where to go as opposed to wondering where it went, and we will also focus on the 3+1 foundational building blocks of the retirement plan,” Dr. Turnbull highlighted.

According to Dr. Turnbull, there is a growing concern that seniors are going into debt at a faster rate than any other demographic and therefore it would behoove the community to attend the seminar and get started on planning for their retirement.

Mapping your Retirement is the second in a series of aging enrichment seminars being hosted by the Social Development Department. The first seminar looked at Estate Planning and Will Preparation. 

The Social Development Department of the Ministry of Health and Social Development aims to provide the population of the Virgin Islands with effective social services that will empower, promote and enrich their quality of life, while fostering individual independence.