When you work for a company, that question is usually decided for you whether you like it or not. If they like you, you might make it to 66, the usual retirement age, but if they don’t, they will find a way to get rid of you, hopefully after the age when you might be able to collect your pension, but like my Mother, they fired her right before she was to collect her pension.

This is where you have to do what many people don’t—take control of your financial future at an early age. Few are lucky enough to come from wealth and if they do, it can make them financially “lazy” thinking everything will just continue to come to them as it has from their wealthy parents and relatives. if you start saving a MODEST from wealth, but as many learn too late, it is likely you WILL retire wealthy IF YOU START EARLY ENOUGH and it doesn’t take a lot of risky investments to do that. As people get older and realize they DID NOT do what I am about to tell you the investment strategies become riskier and riskier in an effort to build that retirement “nest egg”.  The result is usually disaster. When things get REALLY bad PRAYING  TO HIT THE LOTTERY becomes a last resort, but don’t hold your breath. Many foolish souls resort to crime at that point and spending YEARS behind bars is the true definition of CATASTROPHE

Yet the answer is  REALLY quite simple, but most don’t do it. They would rather get the new car(I have NEVER owned a new car. I drive a 1978 Chevy Caprice Classic) buy a house right away instead of living with family for a while or in an apartment and saving money.

Starting at age 18, with your first job, if you save $1000/yr at 4% from a US Savings Bond, you will have more money at 65(retirement age) than if you START saving $1000 a year at age 35  at 8% and save for 30 years.  Instead people don’t do that. They want the new car, the house and on and on. It’s smart to buy a house but you don’t gain anything unless you sell it hoping property values don’t go DOWN  in the years you live there and as we ALL know they can be an ever increasing expense with property taxes, utilities, maintenance  Even if property values go up, many are forced to sell their houses to pay for the nursing home if they are not lucky enough to have a helpful family or ANY family

The answer REALLY is that simple and it does NOT  take much of a sacrifice to save $1000.00/r at age 18. You can buy a used car, limit your vacations, clothes, don’t eat out as much, but MOST  important, a modest, safe investment WILL yield HUGE dividends by age 65 even only @5%.

SOOOOO if its REALLY  that simple why don’t more people do it. You tell me.

I was getting ready to give a   a lecture at Rowan University on handwriting and the professor was telling the students that if you start saving $1000.00 a year at 5% at age 18, you will have more money at the retirement age of 65 than if you start saving $1000.00 a year for 30 years starting at age 35 with no risky investments-just a return of 5%.

Very few people do that. It gives you GREAT control of your life and relieves a LOT of stress in later years

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