Where do you want to be in 30-40 years…when you’re 65?
I don’t know where you are in life at this moment, but did your parents ever tell you when you were in your 20s that you needed to think about retirement?
I know, you’re still so young. Maybe you just graduated and are looking for your first real job or maybe you’re still in school and the last thing you want to think about is what you’ll be doing at 65. Because, let’s face it, NOBODY thinks about the finish line when you’re barely out of the gate yet. If you know what I mean.
But think about it, if you will. If not now when you’re 25, then make a note in your (mental) calendar to think about it when you’re 35 or 40 at the latest.
Think about what you’re doing now and what you’re going to do next year or in 2-3-5 years to set yourself up financially for when you’re 65…or 60 or 70.
When you reach a certain age, you’re probably not going to want to work anymore or at least not work the same job and/or hours as you do when you’re in your 20s, 30s, 40s… so how are you going to get around that?
Unless you win the lottery jackpot, which you most likely won’t, then you need to either start saving your money and/or investing them in something that’ll make them grow enough so that you can basically live from when you’re 65 to 95 years old – without working or without worrying about how you’re going to live, buy food, pay rent, pay bills, etc.
If you’re just betting on saving up your money, it’s going to take practically forever to save enough to be able to live off for 30 years, so the sooner you start…the better. Investing your money seems like the smarter move, whether you choose to invest in stocks, real estate or something else.
I don’t know where you are in life at this moment, but I think that everyone and anyone should have this conversation with themselves regardless of what your situation is, if you’re rich/poor/middle class, if you live in a country that offers state pension or have a job that has a pension fund/savings tied into it. Whatever your situation is right now, it wouldn’t hurt you to take a serious look at your life and where you want to go and do…when you’re 65.