It is simply a part of human nature to be reactive instead of proactive. This has led to a lot of undesirable consequences in later life. There are some ways to which people have not prepared for retirement quite well enough.
The first mistake that people actually make in their youth is not watching what they eat. For a young person, taking in ridiculously huge amounts of fat and sugar seems to be the norm nowadays, the food portions have become bigger than they ever were, and it’s no longer uncommon to avail of servings that offer up to two thousand calories in one sitting. People eat unhealthily, and they tend to do this as a way of life.
There has also been a number of people who have developed the habit of spending unnecessarily on a multitude of things that they don’t need. They end up owning a lot of things and only a few practical investments.
Sadly, such people are also the ones who don’t even consider making plans even as they approach retirement. There is this myth that says that when people get to be older, they shouldn’t make any steps to invest anymore. That may be true to some extreme, but age is a wide spectrum.
The fact is, even if you are near retirement, you can still make sound investments. This would be a wise move, especially if you did not eat right in your youth and you spent a significant amount of money on useless things.
Retirement will come eventually, but it can be less problematic with good investments today.
Andrew Corbman is the founder of ASC Financial, Inc., which specializes in investment planning and wealth management advising services for prospective retirees. For more information on retirement planning, visit this website.