It’s time for your regularly scheduled reminder that the vast majority of Americans are not going to be ready for retirement. I don’t mean they’re not adequately preparing. Most people just aren’t preparing period.
Everyone wants their dream retirement. There’s a reason so many financial brochures have pictures of sailboats and golf courses. But getting there requires preparation.
If you prepare for retirement, you’ll end up with the retirement you prepared for. The same goes for if you don’t prepare. It’s not going to look much like your dream retirement.
If you want a retirement full of sail boats and golf courses, then you need to plan for it. Now is the time to figure out how to build a bridge from where you are now to where you want to be when you retire.
How much do you need to save?
What do you need to do with the money you save?
How do you protect yourself?
You don’t need to get into every nook and cranny to get a financial plan started. There will be time for that later.
People often think a financial plan is a massive 200-page document that will plan out every penny they’ll save or spend until they die. Some people try to go that route, but it can actually be counterproductive.
Financial plans should be living documents that change and evolve with you. Start off simply, fill in the details over time, and stay focused on moving toward your financial goals.
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