Financing Your Retirement

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By Smiley1



Financing Your Retirement - Start Young

No matter how hard we try and ignore the onset of retirement the actual day seems to get closer and closer, and just as many older people will tell you the older you get the quicker time seems to rush by.

When we are young the need for financing our retirement seems to be the furthest away it possibly could be. Retire? We haven't even started living yet have we?

As we get older though thoughts of retirement planning suddenly start creeping into our thoughts but with the new family and proverbial mortgage and car loan what can we afford to spare to put into savings? Nothing right! So we push the thoughts of retirement planning firmly to the back of our subconscious.

Time rushes quickly by, the kids grow up and bang! Another 20 years have passed and retirement is not so far away and suddenly realisation dawns that you have nothing stashed away for your retirement and unless you do something quickly your retirement will be a miserly one.

Saving in a struggling economy is not always easy but the good comes with the bad, the savers will be in a position to take advantage of the lower pricing that a recession often brings.

The moral of this hub is a warning to all you invincible youngsters out there with all the time in the world - Start your retirement planning today - Be a saver not a borrower and try and save at least 10% of your net income a month and I guarantee that you will thank the day that you read this hub and followed this sound advice.


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mikewitt profile image

mikewitt  says:
14 months ago

Great Hub Smiley, and you are dead on, young folks need to start thinking and planning at an even earlier age. I have three kids, all in high school, and saving is the first priority we have taught them. We can only hope that they take that teaching into adult hood and not have to worry about struggling to survive.

Great information,

Mike Witt

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