The Top 10 Retirement Planning Excuses

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. 
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#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.

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