Are you planning for your future?

Have you thought about where you might want to retire? I have not. Maybe it is my age, but I still feel like I have too much to experience in life before I know what I want to do in my retirement. However, whether I know where I want to retire or not, I am going to do all I can to plan for how I will support myself in retirement. The place will eventually be clear to us. In the meantime, we are doing what we can to put ourselves in the right financial place for retirement.

I have strong opinions about setting up a plan for saving for our future. I will tell you why. Just like you might eat well, or exercise so you can be around for many years to come for your children, you have to do the same with your financial future. When my parents passed on, they had not a single penny put away for retirement. I do not blame them. They had to use whatever income they did have to make sure we had food on the table. My mom often worked a few jobs to make that happen. They did not have the luxury to even think about their retirement, and yet when they passed on in their fifties they had not a penny to their name. I have no idea what they would have done if they had lived. Would I, or my siblings be taking care of them?

Life is different now. It used to be that folks would have a pension and Social Security. These days I am not sure that Social Security will be around when I am in retirement. Because of that possibility, Chris and I believe we have to do our own part to ensure we have the funds available to retire. If Social Security is around then it will just be icing on the cake. Yet, according to Fidelity Investments, “41% of couples surveyed in 2011 do handle retirement decisions together—which leaves about one in six couples who don’t.” It is an interesting article, definitely worth reading further.

Yet, I am a bit shocked. 41% is not enough. I am grateful for the 41% of couples that are talking, but what about the other 59%? And, of the 41% that are talking, are they saving, or just talking? How many of you are taking care of your future? Have you begun saving for retirement? It is not an exciting topic, but an important one to ensure that we can continue to live, retire, and enjoy our future.

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