How Is it that hundreds and thousands of Americans each year find themselves at retirement age without the necessary funds to be able to retire? What happened? Who’s at fault? Is the government to blame?
What people are taught, is to go to school, get a good career, work for forty years and retire. Most do but this is only temporarily: They find they can’t afford to live. Then at age 65 or older, they go back to work as a door greeter at Walmart. I’m sure that person would much rather be on a beach with a mai-tai in one hand and a good kindle book in the other. Not on pace to set the world record for the oldest person to say, “Welcome to Walmart.”
According to statistics, 3 out of 100 people turning age 65 are prepared for retirement. Few people ever stop long enough during the hustle and bustle of everyday life to ask some important questions: How much money will I need to retire? How will I accumulate this money? What age will my accumulation allow me to retire?
It’s easy to throw numbers out like a million dollars at retirement. However, most people do not know how much money every month they would need to put away to accumulate these dollars. If one were asked how many items of clothing one could buy, the answer might not be clear but knowing that shopping would consist of different stores would be an easy presentation of locations. Most people direct their attention and effort on how much they are going to spend, not how much they are going to save.
We here at Tidmore Insurance and Financial Group, can help you avoid the retirement pitfalls. People don’t plan to fail, they fail to plan! Whether you are making $20,000 or $200,000, without a plan, in today’s society, it is un-American or un-Patriotic to pay one’s self first. Reach out to us and we can assist you in creating a plan that will change your thinking of money in order to avoid the pitfalls of retirement.