Many people wait until they hit their late 30’s or early 40’s before they really start to think about retirement and that is usually when they go see a financial planner. A financial planner is a professional who understands the financial markets and can help you invest your money as wisely as possible in anticipation of your retirement. Usually your financial planner will supply you with a financial planning chart for retirement that puts everything on paper clear as day. That is usually when the drinking begins.
No one can predict the future and whenever someone tries to predict the future they usually come up with bad news. For the average American a financial planning chart for retirement is a tale of bad news. A financial planning chart for retirement takes where you want to be and puts it right next to where you are. That huge gap in between the two on the financial planning chart for retirement is that slim chance you have of saving what you actually want for retirement. With inflation speeding up and incomes slowing down it is not wonder that many people give up when they see the financial planning chart for retirement.
Retirement Is A Gamble
They say that the generation born in the 1960’s could potentially be the last generation that receives social security benefits before out of control government spending dries up that great idea. So anyone born after that runs the risk of having to fend for themselves when it is time to retire. Many people plan on never retiring or at least see no way they can retire when they reach retirement age.
In the late 1990’s the stock market crashed and hundreds of thousands of retirees lost all of their retirement income. Money that they had been saving for decades was gone literally overnight and the drop was too quick for many to move their money into safer funds and save it. Retirement, like anything else related to the stock market, can be a gamble.
All you can really do is look at that financial planning chart for retirement and do your best to close that gap between what you want to happen and what really will happen. It is difficult with so many Americans having little to no disposable income and with so many Americans bouncing from minimum wage job to minimum wage job. Something needs to be done but in the meantime you can help yourself by trying to close that gap.