Are You Procrastinating About Retirement?
By Bobbie Salow, Senior Practice Manager
If you’ve been putting retirement savings off, you’re not alone!
Procrastination is a negative word to most of us. It might give you the feeling of being lazy or unmotivated. It’s not that people are consciously lazy or unmotivated, they may just be uninformed of the importance of saving early for their future. Being self-aware of the action to save can play a huge role in your financial freedom.
We Get It, Life Happens...
There have been numerous studies conducted to understand why people procrastinate when it comes to their retirement. One study done by Financial Engines shows 68% of adults ages 55 and older admitted to procrastinating on retirement planning. Why do you think this number is so large? It’s likely because people don’t know when or where to start. Just as the old saying goes, Life happens, and financial procrastination kicks into high gear.
There’s Still Time!
Imagine if you started saving $5,000 a year for 10 years with an annual rate of return of 8%. How would your retirement future look? The graph below puts this scenario into play. If you are like most people, and you didn’t start saving in your 30’s, you still have TIME!
No matter your age, start investing for your future now. You’re worth it!
(The above chart is for illustration purposes only. Actual investor results will vary.)
Put Your Budget Into Action
The first step to stopping procrastination is to start now! Start by making a financial savings budget and put it into action, every day. Talk to Morey & Quinn Wealth Partners about what you want your future to look like. You want control of your retirement, so are you ready to stop procrastinating?
You Have Questions, We Have Answers...
If you would like more information on how to start saving for your future, please give us a call at (402) 502-9900. It's our passion to help guide our clients on their unique path to financial freedom.
Living your best life starts with a plan. Contact the Morey & Quinn Wealth Partners to discover the possibilities for your future.
Any opinions are those of Bobbie Salow and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.