Are you guilty?
We are going to discuss three crazy and wild reasons that people say they just do not want to save for retirement. Once you understand what these three reasons are, you no longer have to fall victim to saying these same things.
I do not have any money left over at the end of the month
The first reason that I hear constantly over and over is people say that I do not have any money left over at the end of the month to save. If you have gotten yourself in this kind of financial situation, it is best that you stop right away and start to preplan your life. You may ask yourself, how can I afford to save for retirement if I have no money left over at the end of the month? My question to you is, how can you not afford to save for retirement at the beginning of every month before you spend money on anything else? Money is going to be spent one way or another, whether you choose to spend it on something of value or not is your choice.
You may have to minimize your living expenses each month in order to start saving for retirement. Once you have the money taken out of your paycheck before you receive any money, you will learn how to live on what money is coming in. This is really not something you will have to think about because you automatically have to figure out how to function on the money coming in each month. If you never see the money at the beginning of each month, then you will never know you are even missing it.
I love my job and I plan on working there forever
The second thing I hear over and over is that I love my job and I plan on working there forever. We all are under the illusion that we have forever and ever to live on this planet. Unfortunately, this is not the case. Our bodies will get older and we will not be able to do the things we once did while we were younger. There are also other things that can happen, such as a loss of a job. Your health may start to deteriorate. I’m not trying to be negative here, but the reality is human beings do get old and leave this earth.
I already have already saved enough money
The third reason that it’s fairly common is that I already have already saved enough money. They have done their calculations and think they have enough money to live on retirement. If this is your situation, then I congratulate you for a job well done. I will remind you of one thing however, retirement accounts are not just used for retirement; they are also used to minimize the taxes you pay on your earned income. Many of these retirement accounts can be contributed to tax-free each year. Are you taking full advantage of any tax-free money that you can?