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20 Reasons Why We Put Off Retirement Planning


Not many people like change. Nor do we like to plan ahead of time. So why do we put off retirement planning?

1. Why should I plan for it? I just started in my career and retirement is too far away.

2. How do I know what I will need then?

3. I plan to die early.

4. I don't know how to plan for retirement. It's too complicated.

5. I'd will, but I don't have the time.

6. What's that?

7. My idol is Mr Lee Kuan Yew and I plan to never retire and work till I die. If I am still needed after death, I shall arise from my coffin and save my company.

8. My financial planner will do it for me.

9. I plan to live off my kids.

10. It's the government's responsibility. I've worked so hard, they should take care of my retirement.

11. I live day to day, I don't even have a bank balance at the end of the month.

12. I don't have much savings, it won't make a difference.

13. Isn't it taken care of by the Central Provident Fund (CPF- Singapore's form of 401k plan)?

14. My family's rich, go bugger off.

15. I'd think about it when I get there.

16. I don't know how.

17. Uh? You mean you have to plan for it? Doesn't it just happen?

18. It's too complicated. I don't know how to start.

19. Look at all those people who lost money in investments and the big insurance firm which needed a series of massive bailouts from their government. And you ask me to plan for my retirement?

20.Retirement planning? That's so uncool. I just think about what my next meal is gonna be.

I'm just glad that my first job is with a brokerage and learnt the value of investment and my second is with a bank and learnt the importance of fiscal discipline and frugality.

So what is your excuse for not preparing for retirement? Or why are you preparing for it?

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Freedom Achiever said...
October 30, 2010 at 5:24 PM  


People who don't plan from their retirement are either from "work and pay" and "work and play" types.


Freedom Achiever

Mark L. Fox said...
November 3, 2010 at 1:48 AM  

One of the best tools to add to a "do it yourself" strategy is to use Nest Egg Software.


I think your readers would really enjoy it. It is a retirement calculator that allows you to implement a "basket" strategy for your assets. It includes CD, pensions and Social Security, etc. and allows you to treat your different assests differently depending on short vs. long term investments.

It is free.

You can check out an overview video of the software here:


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