Statistics routinely show that most people delay saving for retirement far too late. In fact, many do not begin saving until they are 10 or 15 years away from retirement!
- You will be tired. That’s why it’s called “retirement.” Seriously, you won’t have the same level of energy at 75 as you had at 35. And many people live far beyond 75 years of age!
- Compound interest. Compound interest helps you carry the financial burden. It is what allows an investment of $100 per month for 40 years to equal $1,176,477. However, TIME and CONSISTENCY matter most. That’s why it is so very important to start early and often!
- You won’t financially burden your children. You won’t believe the number of people I’ve met who are having to take care of their aging parents – not healthcare-wise, but financially! And as family, we all want to help however we can, but it is robbing many of these families of the ability to save for their own retirement. Many times, it leads to a repeat situation when the children retire!
- It’s a sign of wisdom. You KNOW you need to save for retirement. It seems like 20-percent of TV commercials are related to investing! To ignore the obvious is a sign of laziness. Using the slogan made famous by Nike: Just Do It!
- You just got 5 minutes older reading this article! Yesterday is gone. Tomorrow is the future. That’s why today is called The Present! Use the gift of TODAY to start your retirement savings account – or kick your existing one into a higher gear!
NOTE: This post was written as part of the “Retirement” series here at the wildly popular JosephSangl.com! Click HERE to access all previous tips in this series.