Considering a time to retire for the majority of people means simply putting in a date for a few months down the road, to leave their jobs. Some take into consideration a early retirement planner or a financial advisor, but for the majority of individuals looking towards retirement is completely beyond their thinking capacity.
Some people that have a pension simply rely on what their pension program tells them! And perhaps just like yourself, the thousands of individuals retiring each day have absolutely no exact details as to having a well laid out retirement plan or what their future holds financially.
It seems that achieving a lifetime of financial stability has slid totally backwards in the lives of millions of Americans and for some completely out of view. In our society the reasons could be economic factors, loss of jobs, personal life issues, lack of knowledge and attitude. Here is what I found out…
2 very good reasons why you (and millions just like you) are not making retirement plans:
1.Studies have shown that lack of even simple planning (for what ever reason) is the major culprit due to the fact that people have not set any type of retirement planning as a goal.Take a good look around you, it is quite obvious that people are more into what is happening today, people are living on credit, seems to never have any extra money, instead of making plans for the future, budgeting and working those plans. Being prepared for the future and for retirement has taken a back seat to the present every day needs that have to be fulfilled.
2. A mountain of debt and/or lack of money is obviously a gigantic issue. Including such things as mortgages, credit card, student loans,car and secured debt, over 80% of Americans hold debt. Does anyone out there remember, before credit cards came around, that people use to save money to buy everyday things as well as major items? It seems instant gratification has taken over.
A few good reasons why retirement savings is not happening:
- Your retirement is definitely not the same as your parents retirement, where they stayed with one company for 30 to 40 years and earned a decent pension.
- Now a days people are changing jobs an average of every five years
- Companies might offer a 401k to employees but they are not contributing like they use to.
- The Employee Benefit Research Institute, stated a few years ago that approxiatemely 40% of American have not made an attempt to figure out what they need to save for retirement
- People do not factor the best age for them to retire, simply following what everyone else does, (age 62, 65) is not sufficient for your own personal needs.
- People are living longer, and not taking into consideration an early retirement planner that would factor all aspects of outliving their retirement money source.
Depending on your age, time is certainly on your side. Getting started, finding help and sticking with a plan should be a commitment that you set and a goal within your reach.
Simple reminders to live comfortably in your later years:
- discover ways to build your income
- track your expenses
- keep your expenses under control
- make sure you get your full benefits from social security
- expect issues and out of pocket expenses (at some time in your life, they do show up)
- find out how to work with an early retirement planner and the many resources available
- life calls for a plan, learn to set goals stick to your plan, achieve your success
- seek out realistic answers for planning and achieving a fantastic retirement.
- do it on your own terms, just do it.
Do you want to have complete control of your money and your financial future? Working with an early retirement planner is key to your success, it can be done even with a one page plan!. Making small changes leads to a happier, rewarding, wealthier lifestyle.