You NEED to save for Retirement

You NEED to save for Retirement

It’s critical to note that life is made up certain cycles in which we each belong to at certain points in our lives. Yes some of us are born into a world where we are blessed with parents or elders whom provide for us and take care of our daily needs. Wonderful feeling  I must declare, but at some point we transcend over to another cycle of the teenage period where we learn to comprehend the value of money and working with dedicated efforts to provide further enrollment for our education. Soon we leave college and we embark upon the daily grind of conducting various forms of white and blue color labor that helps provide for ourselves and our family extensions. An Applause is in check and merit must be given to those who currently work diligently and contribute to consumerism and our economy daily. But wait a minute, what happens next? A brisk thirty year old queries if he or she will be of ample strength, body and mind to work as their age heightens. Scary thought it is. How do we provide for ourselves when we get older and our input in the workforce may have been taken over by a new generation? How do we then provide for ourselves and similarly aged significant other to whom shares the same boat with you. Everyone needs to save for retirement. I have spoken to so many people who are living pay-check to pay-check without setting aside for the future and not focusing on the big picture which is a retirement plan. A retirement plan is key for anyone to consider. It is not the responsibility of your office or employer but mostly yours. Hey it’s nice when we work at secured jobs where they provide that provision and the various frills that help kick start long term procurement. Nevertheless not everywhere you work will provide this and hence, it is wise for you to consider the future and start to put away for the silver years.

If your job doesn’t have retirement plans, how about you start your own IRA, make it a conscious effort to set aside money for retirement, apart from your savings. Ask your bank about options.

I know that sometimes it’s easy to focus on the now, but retirement money should be a priority. Think about it, wouldn’t you rather be able to live comfortable knowing that you had saved for retirement. You do not want to be in a situation of not having money to survive once you are no longer working. Work out your expenses and do your best to stay within budget. I know that we all sometimes live beyond our means, however thinking about the future is wise. Setting aside money for retirement is one of the best things you can do for yourself.

I remember my math professor showed us the benefits of investing in stocks or bonds and even real estate and having such assets are great long term investments and they appreciate in value.

I write this post because sometimes a person might be thinking about it and just need that reminder to do so.  For those of you that have not yet set up a retirement plan please consider and act now.