Planning for your Future - How Much Responsibility Should Fall on your Shoulders?
The recent election again shone the spotlight on the lifestyle the baby boomers are going to be experiencing in the near future, if they haven't already. If its not already obvious to you, I'm writing about retirement and whether you will be able to 'live the dream'.
In an article I read, it was noted that to live the 'freedom 55' lifestyle of commercials past, with the golf games and constant travel, we need to start saving more than ever. The new, or not so new, focus is the result of expectations you may not be able to satisfy with your pension or savings.
If you are starting to plan, and its never too early to do so, consider how long you intend to be retired, whether your pension is going to be available and whether there will there be enough people paying into it to sustain your expectations. As life expectancies are also lengthening, whether you can anticipate and health concerns which may be above and beyond your current health care should also be a consideration.
We all work towards the days when we can live out our dreams, but shouldn't we make sure we plan well and for the specific life we want. While doing so, it can't hurt to consider how all those plans are going to pass on your death. Something to think about.
Until tomorrow,
Nadia M. Harasymowycz - Click here for more information on Nadia Harasymowycz.
