Ten common “reasons” why someone does not plan for retirement.
Provided by Justy Armijo
#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.
#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.
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800-369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.
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