4 Signs You’re Thinking About Your Retirement Plan the Wrong Way

Retirement plans are essential for anyone who plans to live to old age — yes, even if you swear you’re never going to retire. Yet many people underestimate the importance of doing so, and they put it off or throw out a guess rather than sitting down and doing the math. There are many reasons for this, and here are four of the most common ones.

1. You don’t think you need a retirement plan.

An increasing number of Americans are planning to retire after 65 or continue working indefinitely.

Those who believe they’ll never retire may think they don’t need a retirement plan or retirement savings, and in a perfect world, that would be true. But we don’t live in a perfect world. Illness, a family emergency, or a job loss could force you out of work even if you aren’t ready to retire. You also might change your mind at some point. It’s difficult to predict how you’ll feel about your job in a year, let alone in a few decades.

A man with his hand on his chin, thinking

Image source: Getty Images.

You should have some savings to fall back on in case you’re forced to call upon that cash. You can decide how many years of expenses you ought to have saved, but the more you…


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