Are you planning for your retirement?
It does not matter if you are 20 or 60, but if you do not plan for your retirement you should start immediately. It is an unfortunate fact that most individuals do not realize that it is important to plan for retirement.
If you fall in this category it is absolutely necessary that you continue reading, for perhaps you will find just the smallest little information that might change your mind and the way you look preparing and planning for your retirement years.
Reasons To Save For Retirement
The most important reason why it is important to save for retirement is that you are doing it for you and nobody else. How much you could save will have a real impact on the way you will live your life in your golden years. All of us have goals and dreams and when you reach retirement it is the ideal time to realize your goals and live your dreams, but it can only be done if you have prepared for it financially.
Will it not be better to live your dreams than to worry about where you will live or where will your next meal come from, which are the facts if you did not plan and save to achieve your retirement wishes?
If you are young and single, chances are that you will have a family some time in the future. Even if you do not have a family yet, it is important to save for your retirement, because you do not want to burden your children, which will have their own financial problems, with your retirement expenses. Also remember the younger you start planning and saving for your retirement the more you will have when your reach that important milestone in your life.
More reasons to save for retirement.
To save for retirement will most definitely ensure that you are financially well cared for in you retirement years. This is just as important as being healthy when reaching your old age. We all know that when we get older our health deteriorates and you might reach a point in your retiring years where you are unable to care for yourself. If you are financially prepared you may have enough to cover long term care costs, there it is another reason to start to save for your retirement now.
Unless you want to keep on working till you fall over, it is important that you start to save for retirement as early in your life as possible. But just looking around, you will see that many individuals who should be happily retired are still working daily because they did not plan and save for retirement. Ask yourself if you want to be one of the old age working force or happily retired and living your dreams. Just remember it is not very likely that you will have the health or be able to work till you die, so be prepared. Save for retirement today.
Although you might qualify for social benefits when you reach retirement it normally is not nearly enough to sustain your lifestyle or to live comfortably. The financial advisers reckon you will have to earn around 70 percent of your current income to live a decent retirement life while the social grants will vary and will be less than 40 percent of you current income. So, please do not depend on social security benefits when you reach those golden years.