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Do I Need To Plan For Retirement At My Age?

Written By: Jim Long on May 19, 2011 No Comment

Do I Need To Plan For Retirement At My Age?

Most of us at one time or another have asked whether we need to plan for our retirement. Usually, this is a way of forgiving ourselves for putting off such important event.

When do we start planning to retire? Several recent books basically say you waited too late regardless of your age. The important thing is that you begin your planning now. Forget what the “appropriate “ age is said to be. You are where you are in life. I boldly predict you will get no younger. But you will continue to age whether you plan your retirement years or just let them happen.

Let’s look at some age milestones and think about retirement from that perspective. Let’s start at age 40 and see what those “rocking chair years” look like. You will probably say that retirement is a long way off. Others may think you are late to the game but your best years are still ahead. Besides, whatever problems Social Security and Medicare face will be corrected by your cash out date.

As you hit age 50 you probably begin to think it’s time to start thinking about the days ahead. Maybe you’ll put aside a little for the future. But there are lots of demands on your money. These are your prime earning years. Those government programs I’ve paid into for years will be there. Really?

At 60 you know it is close. I have done the best I can. Or maybe, I have blown it. At least they won’t change the rules on me this late in the game. What is all this talk about Trillions? I still can’t get my mind around Billions. Each of us has done what we’ve done. Now it is gut check time. How do I feel physically? What is my mind set? Do I want to stay busy or slow down? What will my finances allow? Can I semi- retire? Is there an encore career out there for me? It seems that there are more questions than answers. At this time in life, each person must look closely at the questions and find their own answers.

At age 70, you have arrived. The government is telling you to receive some of your retirement benefits- even if you don’t want or need the cash. And some social worker says they need to think about taking the car keys away at 70. What happened to my plans to travel and to do all sorts of neat things?

At every age there are questions about our later years to be answered. Some of us will make great plans and never live to see them in action. Others will put off doing anything and hope it all works out . The questions remain. It is up to each of us to decide what to answer as well as when. For most of us who start early enough, our answers will change by the time we are ready for retirement. Let’s begin right now – whatever the age or situation. Seriously review where you are and where you want to go. Be the architect of your life.

Submitted to Ezine Articles 5/19/2011

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