How many of you have taken the time to figure out how much you’re going to need to retire? Chances are you have not. If you don’t figure out what you’re going to need, you won’t know if you’ll have enough. You want to be proactive in providing for yourself. Most people don’t. Most people end-up on social security and working part-time.
Retirement

How many of you have taken the time to figure out how much you’re going to need to retire? Chances are you have not. If you don’t figure out what you’re going to need, you won’t know if you’ll have enough. You want to be proactive in providing for yourself. Most people don’t. Most people end-up on social security and working part-time. You don’t want to be most people. You want to be the exception.  People, Uncle Sam is not going to be able to take care of you in your golden years. The US is trillions of dollars in debt. Wake-up and smell the coffee! It’s up to you to take care of you.

You don’t want to be most people. You want to start saving for your retirement. If your employer has a retirement plan and they match, save money up to the match. If they offer a ROTH IRA, you can save your money in there. If they don’t, then save only up to the match, then open an IRA or a ROTH IRA, if you qualify. In a future lesson, we’ll cover retirement strategies more in-depth.

In order to save money and build wealth long-term, you need a “key”. The key is discipline. When you’re young, you don’t want to think about retirement. However, if you don’t start thinking about and do something about it, when you get ready to retire, you won’t have anything saved. 

Saving money every month, year after year, over decades is huge! Young people who just entered the workforce have 40 years or more before they retire. This is a long time and you can get detracted from your savings goal. You don’t want to spend your retirement money on frivolous items while you’re young.

Achieving discipline is hard, but it is worth doing. You might not like discipline, but you’ll love the results it yields. Think about exercising and healthy eating. Those are hard to do also. However, when you do them, you achieve great results. Think back to:

Hebrews 12:11 – “No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.”

You cannot skip being disciplined if you want to have enjoyment. Put away money for your retirement each paycheck. Avoid get rich quick schemes. The lottery is not going to make you rich. Don’t gamble away your hard-earned money. Save your money. Remember the story of the tortoise and the hare? It’s the slow tortoise that wins! Growing your money takes time. It is not a quick race. It is a marathon. You are in for a long run. Remember the key is discipline. Also, when you start saving young, you have the financial advantage of youth (time) and compound interest working on your side.

Share:

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Most Popular

Categories