Plan For Retirement|Good Advice But No Thanks
You are in your 30’s and 40’s, starting your careers, buying your homes and raising your families therefore your money is stretched thin. The last advice you want to hear is to go out and find extra money to save for your retirement.
If you feel like you don’t have any extra money and could care less about your retirement because it’s over twenty-five years away, you are missing the boat. Visualize your entire financial picture not just this moment in time.
Visualization Says Invest Immediately!!!
#1 – You Will Run Out Of Steam
Your youthful energy will not last|nor does interest.
Financial planners advise you to save money for your retirement early in your career for the simple reason that if you don’t, when you are in your 50’s and 60’s you will regret it.
When you are in your 30’s and 40’s you have the energy and interest to work; but when you hit your 50’s and 60’s, you will have less energy and perhaps a lot less interest in working.
Believe these financial planners, their advice about energy and interest is wise advice. When you are young and energetic it is easy to ignore the fact that you will not always be that way.
#2 – You Will Have More Options
If you take the time and make the effort to build up your retirement income, when you are in your 30’s and 40’s, you will give yourself options when you are in your 50’s and 60’s.
Option 1: you will have the option to stop working or keep working.
Option 2: You will have the option to work part-time.
Option 3: You will have the option to start your own business.
If you have not accumulated enough money by the time you reach retirement age, you will no options, you will be forced to continue to work. Do you really want to enter the second half of your life with no options?
How Do You Pay Forward Your Retirement?
The key to paying forward your retirement is to make it a financial priority.
Make your retirement plan contributions as important as your mortgage and car payments. You only earn so much money, if you manage your money properly, you will find extra money to invest into your retirement plans.
Your Mortgage Payments
Yes, you need a home, but does it have to be the biggest house on the block?
Perhaps you can start out with a condominium or townhouse and accelerate to a larger single-family home when your career develops a bit more or when you start a family.
Yes, you need a car to drive, but does it have to be the most expensive model and does it have to include all the options that are available? Downsize and save money on gas and insurance premiums.
Credit card debt
Spend less than you earn so that you can eliminate credit card debt. You waste investment money when you carry credit card balances. Debt is expensive, the interest and the fees use up money that you could be investing.
You Only Make So Much Money|Don’t Waste It
Do yourself a favor, do not spend money that you do not have. Yes, the latest gadgets and hairstyles and clothes fashions are important, but can you afford it. Can you afford the latest and greatest when you are trying to save money for your retirement years that could last 30 or more years?
We are all given a certain amount of time, energy and interest. Don’t waste yours.