Ten common “reasons” why someone does not plan for retirement.
Provided by Marc Aarons @ Money Managers Inc.

 #10: “I’m too busy”

Stop procrastinating. How does the saying go? The best time to plant a tree is 30 years ago. The second best time is … TODAY.

#9:     “It’s too soon”

It’s NEVER too soon. The sooner you start planning, the better chance you stand of having the kind of retirement you want.

#8:     “It’s too late”

Think again. Even if you’ve already retired, it’s important to consider how you’re receiving income and how long it will last.

#7:     “I don’t need to”

This one baffles me. If you’re simply giving monthly to a savings account and hoping for the best, you may be in for an unpleasant surprise someday.

#6:     “I don’t have enough money to get started”

Starting small is better than not starting at all, and if you plan well, you’ll eventually have more to work with. 

#5:     “My finances are a mess”

Consider speaking with a Financial Professional who can look at your complete financial picture and help you to develop a plan to make your “mess” work for you. 

#4:     “The Government will take care of me”

If you’re planning to retire on Social Security alone, I would advise you to create a back-up plan at the very least.

#3:     “Between my savings and my 401(k), I’ll be fine”

Saving for retirement without an income distribution plan could be a mistake. Have you considered inflation? Taxes? If you live to 100, will the money last?

#2:     “I don’t want to think about it”

If you bite the bullet now and put a firm plan in motion, you may not have to think about it again for quite some time.

#1:     “I don’t know how”

If you knew everything there was to know about financial planning, you’d probably be a financial advisor yourself. If you’re putting off retirement planning because you don’t know how to begin, consider speaking to a professional who does.

Marc Aarons may be reached at 714-887-8000 or MARC@OCMONEYMANAGERS.COM.

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