People think about it from time to time, some take action, but most just go through life in the same routine without changing one thing. So let me start off here by asking you if can personally answer the million dollar question of, what is a reality check, and are you able to make adjustments in your life to change your reality for the better?
Definition of reality check:
An occasion on which one is reminded of the nature of things in the real world. It is the things as they actually exists, (not the perception of what they seem to be) it is everything that is and has been, everything that exists or will exist in true form.
Finding a perfect answer when doing a reality check could be difficult due to the difference in lifestyles and ideas for each person. One must take a look at their past life, their present situation, and make a determination of how the reality of one’s future should be and how to get to that point.
My goal right now is to make you do a reality check not only on your life but also leaning towards your retirement years. Yes my friend one of these days you will wake up and those retirement years will be filling your thoughts. Hopefully you made plans and are ready for those glorious days!
If you are over the age of 30 and your retirement has less than 500k saved for those golden years, the reality is that you will have to find a way to have extra streams of income. The Center for Retirement Research has data that reveals the frightening fact that most people are under funded and half of the retiree population runs a very scary risk of running out of money and with no place to turn for answers.
The truth of the matter is that if people do not prepare and start saving, they will have to continue working throughout their elder lives or depend totally on family members which will put a money strain on everyone and will start a chain reaction.
Whatever your age you can do your own retirement or life reality check right now….
Check out these realities:
- People are living day in and day out just getting by and trying to keep a roof over their heads
- Unexpected bills come up, job loss occurs, debt rises, disasters strike and tips you upside down and inside out. Leaving a destruction for you to clean up
- Taxes, lifestyle changes, stock market losses, unstable economy, a housing market that is seeing little comeback, and a shaky government. Where are we going here?
- More than 90% of people do not fully plan (having a plan A and a plan B) for their future
- The majority of soon to be retirees are depending fully on Social Security, (which it was never intended to be the only source of income in retirement)
- Increase of senior citizens taking on jobs at retail, and fast food chains is increasing at a fast pace
- The younger generation of teens and young college students claim the boomers are taking away these jobs
- Well over 60% of baby boomers and those coming upon retirement, say they do not have enough to retire to meet their needs
- People do not make an attempt to continue a lifelong process of educating themselves. Why does learning stop at the school level?
- People are not required to have a continual learning understanding about personal finances? I’m still searching for an answer on that one!
- People fall into a daily dull routine which leads to false hopes and dreams. Some work 40 years or more just to pay the bills. Never making any type of attempt to better themselves
- People are in debt up to their eyeballs and have no idea of how to fix their money issues
How to do your own reality check…
- Look at your past, and your present…make a decision if you are going to stay in the “now existence”
- Are you are going to set goals to improve your future?
- Are you at a rough point in life right now?
- Feel like you are going nowhere? Is this how you want future to be to end up?
- When you realized that you have had enough of life’s battles, and you realize you want more, to have a brighter future, you need to commit to a complete turnaround change in your lifestyle
- Learn to make right choices, to make good choices
- Life is hard, learn to fight your demons, never stop learning
- It doesn’t have to be complicated. Find ways to keep it simple, there are ways.
- Find what works for you
- Life was given to you to enjoy and make the best of it
Doing a reality check now, can greatly improve your life, increase your level of knowledge and can lead to enjoyment in retirement years.
Many people have regrets in retirement years and have stated that if they could go back, the things they would change will be such things as:
- Saving more money,
- Getting more informed on retirement and investing while they were still working
- Planning out finances
- The need for everyday knowledge, or keeping updated on certain topics
- Understanding the issues with social security and pensions
- Understanding their purpose in life
- Not knowing how to make changes for a better future
Let’s get back to that burning question of what is a reality check? What is your reality check?
Are you preparing for, or are you complete ready for your retirement years? You better be! Include plans for your longevity, your retirement income, your life plan.
Ready to do your own reality check? Take a look at: “A Retirement Reality Check, Are You Doing What You Should Be Doing”.
Would you like to add any of your own reality checks? Leave me a message!