Most people need a job for several reasons. To practice and develop the concepts and skills learnt in school, to ern a living and generate savings, to have some benifits like health insurance and a pension fund.

Can one depend on his job for financial security in these times? For most of the working population, the answer is a resounding NO. But why can't our jobs be sufficient to effectively suffice after retirement? We could interview thousands of pre retired and retired men and women and some may regret having not planned, but most would report living paycheck to paycheck and caught in a seemingly impossible cycle.

Most people enrolled in a 401k will not have enough to maintain their current lifestyle when they retire. In view of the recent recession and investme losses it is imperative that one become very astute in financial matters and seek to engage multiple income streams.

• Be open to investigate new ideas, business oppurtunities with low investment startups and outlays. Look at working from home, using the internet and using the sparetime to build a business. Watch out for the extra demands that the primary income makes on your time, and remember that you must make the extra effort to make money for your future.
• Seek a coach or a mentor who is having success in the areas that you are entering in.
• Change your attitude about money
• Read success oriented information
• Stop blaming
• Take full responsility for your future
• Observe present and future trends
• Invest
• BEGIN TODAY

Past fifty years, most people got a job and kept it for a lifetime and then retire. They married, bought a house and educated their children from one income. Needless to say that cost of living was low compared to the present.

Over the last thirty plus years, it took two paychecks to buy the house and educate the children.

Today, a college educated working couple, are barely able to educate their children to the college level without the aide of loans, scholarships, grants and second mortgages. There is often nothing left after partial bill payments each month.

One has to be desciplined to manage all the financial responsibilities in the family. The choice or decision to purchase with cash most of the time and to pay off credit cards expeditiously are just some of the choices to be made in order to be prepared for retirement.

Expectations

Many people thinks that it will be alright. "Things will work out for me" but that fatalistic approach does not glean the desired results. Some really believe that their children will be financially responsible for their retirement years and that is contrary to the truth. As stated before, the cost of living today, with mortgages, car payments, private schools and credit card debts is leaving very little to spare for many households so the aging parents take second rank in the choices necessary for the nuclear family.

Working past the retirement age

The work life beyond retirement is not a choice but a necessity for many. That is also dependent on ones health and stamina of course as well as the education and life experience in the work force. It is sad to say that for many seniors their work lifespan is 60 years.

Use the Retirement Age Chart to discover when you will retire

http://www.ssa.gov/retire2/agereduction.htm

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