When time is money - and you don't have any

A recent Justin Timberlake science-fiction movie called In Time had the premise that, in the future, people will only live as long as they can pay for time. If your credit expires, so do you. The movie was not up to much, but the concept was compelling.

It reflects the fact that people need cash to live, and that extreme poverty in old age leaves people vulnerable. So, while people don't expire the minute their credit runs out, as in the Timberlake movie, there is certainly a link between money and longevity.

That's the scary part about pension planning. It's freighted with thoughts about mortality and fears of some bleak, impoverished finale. The good news is that retirement is manageable and affordable for most, provided you take a few commonsense steps.

So, how much does a Hongkonger need to retire comfortably? A financial adviser with  a rich client base will recommend retirement savings of HK$8 million-plus.

Someone born in Hong Kong who owns their own property and can rely on the support of family would need much less.

"Retirement will usually be by the far the most expensive event in a person's life, so the sooner they start planning for it, the better," says Robert Flux, director of Simmonds (International) Financial Associates.