Hi, there. Thanks for coming back to the Secure Planning Strategies blog. Today, I am going to discuss procrastination as it relates to retirement planning.
Before we get started, I first want to really get a better understanding about procrastination. Procrastination is the action of putting something off that you can do today, or perhaps right now. We make excuses as to why we push off something but studies have shown that there are three reasons why we procrastinate. The first reason to consider is that the job or task, at hand, either seems too big or too unpleasant. Second, we have learned to only become satisfied with the instant gratification mentality and we don’t see the immediate value of the task or job. The last reason is that there might be fear of failure.
Now, we have discussed what procrastination is and why people do it but we now can apply the reasons as it relates to retirement planning. First, people might not plan for retirement because they do not want to think about the unpleasant thought of dying and leaving loved ones. Another thought to add is that people might not have the extensive knowledge to actually plan for a successful retirement so they just put it off. The second reason is that people will not see the instant benefit of money being taken out of the monthly budget and not much to show for it. The last reason to consider is the fact that a person might be able to invest and lose it all, through no fault of their own. It’s a scary thought but it could happen.
Although the reasons for procrastinating for retirement planning could be valid and good reasons, these should not stop a person from planning for the future. Fear, or lack of knowledge, should not stop someone from moving forward. The answer is simple. Find an experienced wealth management advisor to educate you and show you how to build a healthy portfolio.
We, at Secure Planning Strategies, are here to see you succeed with your retirement dreams and provide a nonjudgmental atmosphere when it comes to investing. Please know that we are never more than a phone call away and we care about you and your situation. If you don’t want to wait for the next week’s blog article and you want to get started today, please give us a call at: (248) 827-2580 or e-mail us at: info@spsfinancial.com.
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