Industry commentators love to wring their hands over the plight of disadvantaged groups reaching retirement with tiny pension pots. Recent headlines tell us some people in the UK are retiring with just £3,650 in private pensions. Predictably, the “solutions” always seem to involve giving these same industry commentators more of people’s hard-earned money—expanding auto-enrolment, lowering contribution thresholds, or finding new ways to siphon off life savings.
But here’s a thought they never mention: Human Capital Strategies.
Why don’t they talk about this? Because it doesn’t sell more pensions. There’s no profit for the industry in helping people become self-reliant. But there is a massive benefit for individuals—and for society.
Rather than forcing people to save more into underperforming pension schemes, what if we tackled the root issue: the assumption that financial capital is the only route to security? What if we recognised that human capital—our skills, passions, and talents—is just as valuable?
Imagine a future where:
- Age discrimination is stamped out, allowing people to earn well into their later years through work they love.
- Side hustles, creative pursuits, and freelance gigs become meaningful, sustainable sources of income.
- People with disabilities are empowered to generate income in ways that suit their abilities and needs.
- Passive income streams are developed—giving people control, flexibility, and dignity in later life.
This isn’t a pipe dream. We already have the framework: it’s called the GAME Plan. And it’s free of charge to everyone on Planning My Life. Our mission is to empower people to plan their lives before they plan their money, unlocking personal freedom and financial autonomy in ways that pension reforms alone can never achieve.
The industry continues to focus on squeezing more out of the same system, but it’s time to ask: Why are we relying on a broken model?
Instead of funnelling disadvantaged groups into the same old trap, let’s offer them genuine empowerment. Let’s help people build resilience through human capital. After all, financial security is about more than just a pension pot—it’s about creating a life of purpose, income, and independence that endures.
It’s time for a new conversation. Let’s start it now.
Questions & Answers
Q: What’s the main issue you see with current retirement solutions?
A: The current system is obsessed with growing financial capital—mainly through pensions—without addressing deeper inequalities or offering practical alternatives. It keeps disadvantaged groups stuck in a cycle of low savings and dependency, rather than empowering them to build lasting self-reliance.
Q: Why don’t industry commentators talk about Human Capital Strategies?
A: Simply put, there’s no direct profit for them. Human capital strategies—like developing skills, side-hustles, or passive income—don’t sell financial products. The industry’s model relies on managing money, not helping people generate it themselves.
Q: What exactly are Human Capital Strategies?
A: These are ways to use your skills, talents, interests, and time to generate income—whether through work that feels purposeful, freelance gigs, creative projects, or other ventures. It’s about leveraging what you can do, not just what you can save.
Q: Isn’t retirement supposed to be about stopping work?
A: Retirement should be about freedom, not forced inactivity. Many people want to continue contributing, earning, or pursuing meaningful projects into later life—especially if they enjoy it. Human Capital Strategies make that choice possible and fulfilling.
Q: How does age discrimination affect this?
A: Age discrimination is a key barrier that prevents people from accessing opportunities to work or create income later in life. Removing these barriers unlocks enormous potential for older adults to stay active and financially independent on their own terms.
Q: What is the GAME Plan and how does it help?
A: The GAME Plan is a framework that helps people align their life goals with actionable steps to achieve autonomy and security. It’s about planning your life first, then building the financial architecture to support it. We offer it for free through Planning My Life to empower everyone—especially those underserved by traditional systems.
Q: Is this approach realistic for people with disabilities or chronic illness?
A: Absolutely. One of the strengths of Human Capital Strategies is their flexibility. Income streams can be tailored to individual abilities and needs—whether that’s remote work, creative pursuits, or passive income models that reduce physical demands.
Q: What’s wrong with just improving pensions?
A: There’s nothing wrong with fair pension reform—but it’s only part of the picture. We need a both/and approach: yes, improve pensions, but also equip people with tools to create sustainable income and independence. Without this, we’re just patching up a broken system.
Q: How can people get started with Human Capital Strategies?
A: The best starting point is self-awareness—understanding your skills, passions, and goals. From there, the GAME Plan provides a clear roadmap. Anyone can sign up for Planning My Life and begin crafting a personal strategy, at no cost.
Your Money or Your Life
Unmask the highway robbers – Enjoy wealth in every area of your life!
By Steve Conley. Available on Amazon. Visit www.steve.conley.co.uk to find out more.
Academy of Life Planning 