Do left-handers have bigger pensions?
Well to answer that question, I need to find out how left handed you are. Please prepare yourself for a short experiment by getting a pen, a coin, a toilet roll and a phone. Here goes.
- Pick up the pen to write your name.
- Put the coin on the floor, now step on it.
- Pretend the toilet roll is a telescope.
- Pick up the phone to listen to it.
Now did you use your right or left hand, foot, eye or ear? This gives you a rating on how left handed you are. If it was your left hand, foot, eye and ear, you are a real Leftie.
So, do left-handers have bigger pensions? My assertion is that left-handers have smaller pensions but higher retirement incomes. Here is the theory.
Right-handers have a strong left “linear thinking” brain. This makes them good at maths, a tendency to have strong scientific skills, write lists and are very logical. Whereas left-handers have a more developed right “holistic thinking” brain. This makes them emotionally expressive, spatially aware, creative and good at looking at the whole picture. Hence, why right-handers are great at joining the pension scheme early, working out how much they can afford to save and checking on the tax relief. This is great during the accumulation stage but you need to have a different “right brain” set of skills when it comes to planning your retirement. What do you want out of your retirement, what do you want to do and what matters most? This is where the left-handers excel in thinking about the big picture.
Back to the test; if you came out 50:50, you are really well placed for a great retirement!
At TPAS, many of our customers call us about one of their pensions, where they have received a retirement pack. The conversation will start with very specific questions about this one pension scheme. Our aim is to try to get the customer to take a step back to think about themselves and what they want. You only need to be an expert in one thing to make the most of your retirement income – that is being an expert on yourself! TPAS can do the rest!