It's terrible how ill prepared most of us are for retirement. It's not like we don't know it's going to happen. We have more than half of our lives to get ready for it. Sadly, some of those that did prepare have had their savings taken out by the current economic problems. If the government really wanted to do something about this they should have a method to start the preparation for retirement when we are born. At birth we give children a Social Security card, why not a retirement account also. Why wait to start something important like that 25 years later? What's your take?
Many people assume they can hold off saving for retirement and make up the difference later. It can be a costly error. Waiting too long to start saving can make it very difficult to catch up, and only a few years can make a big difference in how much you'll accumulate.
One of the challenges is that research has shown that when people think of their future selves at retirement age it uses the same part of the brain as when we think about a stranger.
Many people assume they can hold off saving for retirement and make up the difference later. It can be a costly error. Waiting too long to start saving can make it very difficult to catch up, and only a few years can make a big difference in how much you'll accumulate.
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One of the challenges is that research has shown that when people think of their future selves at retirement age it uses the same part of the brain as when we think about a stranger.
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