Ten common “reasons” why someone does not plan for retirement. #10: “I’m too busy” Stop procrastinating. How does the saying go? The best time to plant a tree is 30 years ago. The second best time is … TODAY. #9: “It’s too soon” It’s NEVER too soon. The sooner you start planning, the better chance you stand of having the kind of retirement you want. #8: “It’s too late” Think again. Even if you’ve already retired, it’s important to consider how you’re receiving income and how long it will last. #7: “I don’t need to”
This one baffles me. If you’re simply giving monthly to a savings account and hoping for the best, you may be in for an unpleasant surprise someday. #6: “I don’t have enough money to get started” Starting small is better than not starting at all, and if you plan well, you’ll eventually have more to work with. #5: “My finances are a mess” Consider speaking with a Financial Professional who can look at your complete financial picture and help you to develop a plan to make your “mess” work for you. #4: “The Government will take care of me” If you’re planning to retire on Social Security alone, I would advise you to create a back-up plan at the very least. #3: “Between my savings and my 401(k), I’ll be fine” Saving for retirement without an income distribution plan could be a mistake. Have you considered inflation? Taxes? If you live to 100, will the money last? #2: “I don’t want to think about it” If you bite the bullet now and put a firm plan in motion, you may not have to think about it again for quite some time. #1: “I don’t know how” If you knew everything there was to know about financial planning, you’d probably be a financial advisor yourself. If you’re putting off retirement planning because you don’t know how to begin, consider speaking to a professional who does. Give us a call for a no-obligation consultation. 248-731-7729
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