Planning for Your Retirement is Not Optional!

Planning for your retirement is not negotiable. It is not optional. It is a must! And the sooner you start the better. But if you did procrastinate, start now! Immediately.

I have been retired for ten years and it breaks my heart to see some retired people who are really struggling to make ends meet.

When you approach seventy years of age it becomes very difficult to find employment to augment your income. Your only survival is in scaling down to a much more frugal lifestyle, than what you were used to.

The U.S. Census Bureau publish some retirement statistics:

Did you know that for people who started working at age 25, only 4% have adequate savings and capital stowed away by age 65 for retirement? A whopping 63% are dependent on Social Security, friends, family, and charity!

The average amount saved for retirement by American families is $43,000. Of all working Americans, 40% are not saving for retirement.

Planning, and making financial provision, for your retirement is not optional. And it includes planning for personal security, mobility, health care, lifestyle, and a social support network.

If you are not older than age fifty, it is achievable to make adequate provision for your retirement. I know, because I only woke up to this crisis at age fifty. But it takes determination, tough decisions, and probably a lifestyle change.

Recently someone aged 60 came to me for advice on making provision for her retirement. She fully expected that by some magic formula she would be able to retire early! Before her compulsory retirement date of 65. And upgrade to a more flamboyant lifestyle in retirement!

When we analyzed what she's saving and have saved, it was clear that her position was worse than the above statistics. It would take a superhuman savings effort to save enough in the remaining time. Even if she were to downscale her lifestyle drastically.

On this Web site I discuss various issues around retirement planning. I propose strategies, ideas, tips, and tools. Visit these pages and educate yourself to take control of your retirement planning. Eliminate uncertainty!

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