There are tons of things in life that we know we need to do, but we never get around to it. It’s not that we don’t plan on completing these tasks, they just live on to be done another day. For example, this blog post was supposed to be done on Monday, but here I am on Tuesday finishing it up. I might lose some points on my homework assignment, but sometimes when life gets crazy you have to re-asses your situation. Luckily the cost of changing plans for something as little as a homework assignment isn’t too steep, however, I cannot say the same thing about the process of saving for retirement.
Everyone will tell you one of the most important things about a retirement plan is starting while you’re young. I completely agree that that would likely be a huge help. However, there are millions of people over the age of 45 with no savings at all. Now if you are one of those people, what are you to do? I mean, no one wants to work for the rest of their lives (and that’s if they are fortunate enough to be able to). No one knows how long social security will be around for, and who can live off of that alone anyways? After thinking about these questions, no easy answer occurred to me. They are hard questions with hard answers. The only idea that really came to mind is: start saving right away!
I come from a family that has never been good at saving money so I understand how people get in these situations. There are multiple reasons/emotions that explain why someone would wait so long to start saving for retirement. They might have had other issues that seemed more important at the time, or maybe it’s as simple as they don’t know how to start. Whatever the reason may be, it’s important to remember that when it comes to saving, it’s ALWAYS better late than never. You might have feelings of discouragement now, but after you get started, you’ll feel so much better (just like I do now that my homework is almost done). Even if you start out small, that’s better than nothing. Then, opportunities might present themselves where you can save more and more. No matter how it turns out, I can promise you that you’ll be better off than you were before. And that’s all any of us really want, to be a little bit better, to live a little happier, and of course, to have a little more money in our savings accounts.
But seriously, if you want some good tips for retirement savings click this link and read a helpful article from moneyeconomics.com.