When planning for retirement sometimes less is more. Learn about some tips and even some misconceptions that revolve around getting ready for retirement.
Youth is wasted on the young. Often, money is, too.
Back in my corporate days, when I managed scores of retail stores and hundreds of employees, I stressed the importance of planning for retirement—as well as saving for future goals—with every person I hired. Before the start of their very first shift, I would sit down with each new team member and show them how to save for retirement without stress, worry, complexity, or pain. Within a few minutes, I could literally see the difference in their physiology as trepidation drained from their facial features and, after we spent 30 minutes examining their options, confidence began to take over once they realized planning for retirement is much simpler than they thought.
Most of these employees hadn’t given much thought to saving for the future: maybe they’d heard their parents or spouses maunder about stocks and bonds and mutual funds, but they hadn’t considered which path to take because planning for the future, especially with respect to finances, is overwhelming, daunting, boring. There are so many options, so many so-called experts, so many ways to screw things up. So, like many of Americans, they stood stuck in analytical paralysis, opting instead to postpone the decision for another time in some nonexistent hypothetical future. You know, “one day.”
One day: these two words are dangerous because they give us an excuse to shelve important decisions that radically influence our future. Waiting for “one day” to arrive doesn’t solve the problem—it makes it worse. Each day we wait, the worse it gets.
Read More: Retirement Planning: How to Plan for a Successful Retirement | The Minimalists | http://bit.ly/1avOdlZ