Biggest Retirement Planning Mistakes

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retire time clockSeems we are keeping our heads stuck in the sand when it comes to saving for retirement. For our own personal or ignorant reasons we keep delaying one of the long term issues of our lifetime.  In fact a couple of the biggest retirement planning mistakes include not planning at all, or starting later in life, then you are scrambling to play catch up. So how do we supplement or save for retirement, when should we start, what should we do? Where do we get the money now?

It could be the same for you as it is for others, people claim they do not have any extra cash come payday to put away for those wonderful  happy, stress free “golden years”.

The best time for individuals to start for best results is in their twenties but this is not always happening when other issues seem to take protocol.  What surveys have shown is low paying jobs, just starting out, attempting to buy a home and mostly student debt are bigger concerns.

Financial expert, author and motivational speaker, Dave Ramsey really gives his listeners “slap upside the head” and a dose of reality when he states that the biggest problem with retirement money comes down to people not, fully understanding the ramification of prolonging the issue of  putting money into a retirement account.  Yes failure to contribute will totally affect the outcome of your retirement fund.

Check out where Dave is  talking about retirement and his example of saving $100 a month and what you can retire with if you stayed committed and keep doing this of a period of  years.

Getting into a regular routine of a monthly  retirement savings plan will start with a trickle effect and  turn into steady streams when steadiness and consistency is part of your building blocks for a retirement account .   By way of maintaining that commitment to  a certain amount, month in and month out.. .once it starts to snowball, the magic of compound interest will surprise you.

The best thing you can do right now is to get started, no matter what your age and then make continuous monthly contributions knowing you will be prepared for retirement years.

With pensions be reduced, or just entirely eliminate in the business world, your other option is what?  You will end up being broke and living on a bare income.  Sad fact is that most people will only depend on our broke government to take care of them. The average social security monthly amount right now is approximately $1,200 a month, and yes people definitely are struggling  and forced to  live on what the government dictates.

People are  also finding that in pre-set pensions and social security there is no guarantee as far as increases, or if there will be such a thing in the future, as they are now finding out as they receive their 2016 Social Security allowance.120px-Social_Security_Cards


With no planning, no saving , no updating  or rearranging financial issues, and as prices of everything continue to rise, people will be literally forced to make some life threatening choices.  Do you have a plan to maintain a dignified lifestyle?

Why is it that people are just settling on the little amount of “social insecurity” What happens if the Social Security Department goes broke? You can check the small amount that you might be receiving at

Factoring in the Biggest Retirement Planning Mistakes  and the fact that there will always be bills you still need to learn to pay yourself first.

I know it will  be hard but once you get started and keep with the program, you will find ways to get by. Think of funding your retirement as a regular bill that has to be paid each month. And just make sure you do. Some companies will allow employees to have deductions taken right out of their regular wages and put directly into a 401k or an IRA. Check with your employer.

You gotta stop doing what you are doing right now and make good choices to make positive changes for  your future.   People have to realize that moving into the retirement era is a completely different situation than then when they were working a regular job and receiving a weekly paycheck that got them through the week.

Get started today,  do not fall into the retirement trap, as millions of older people are dealing with right now. Living with  the stress of continuous tough times, going without medication, attempting to make ends meet, doing without the necessities.

Do not rely on social security! It might be there when you do retire, but is the amount going to be sufficient for your needs. Using a retirement calculator could be a big benefactor to figuring out what you will need in retirement and how much income you will still have to bring in if you remain in a semi retirement stage.

Going forward, will you have financial comfort with enough money to do everything you want to do, will you fulfill your goals and dreams? Or will you live out the remainder of your life dealing with financial insecurity, hardships, and just struggling to get by?

Avoid the Biggest Retirement Planning Mistakes, start planning, start saving, if you use a financial advisor you still need to be in charge, remember it’s your money, keep yourself educated and have a rewarding retirement.

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  1. JeffWA

    Hi Angela,

    That was a very thought provoking article that you wrote concerning the fact that many people do not properly plan on how to save their money/income for later years involving retirement.

    Most of the factors in which income cannot be adequately saved – poor paying jobs, loss of jobs, extreme debt due to college loans, and the rising cost of healthcare in which employers foot less and less of the bill are monumental reasons why people just can’t do it.

    It took me about 10 years to help in paying off my college loans – and this was back in the 1980’s when tuition cost a heck of a lot less than it does now. I could not fathom having to re-pay hundreds of thousands of dollars over time as many graduates in their 20s and just out of college have to face.

    Yes, it also is true that so much of the U.S. govt. is on the verge of going broke, most definitely Social Security.

    It’s but a reason why so many people chose to work past the considered normal retirement age (65) even if this means a part-time job.

    This was an excellent article Angela. Perhaps CEO’s, individuals who bankroll millions of dollars yearly yet pay their employees pennies by comparison and elected Congressman who never can seem to get their acts together as to how to run the govt. so that this country would not be in such high debt should read what you had to say, Angela!


    1. Angela

      Hey Jeff, All I can say is WOW to your comments! People need to open their eyes and perhaps get hit with some reality, to make changes on their retirement years. And yes, the top CEO’s and big businesses need to do some restructuring. Help spread the word and come back and visit often! Again, thanks!

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