Understand Why You Should Actually Start Planning For Retirement Now

As a young professional, you have plenty of things going on in your head. 

• Which places do I need to travel ASAP?
• Which cuisines do I need to try?
• How do I get promoted quickly?
• What is the best way to learn fast?

Sure, these are all important goals. After all, youth comes but once. 

With that being said, it is extremely easy to get lost in the hustle and bustle of daily life. 

As goes the saying, 

Youth is often wasted on the young. 

Which is to mean that when you are young, you tend to obsess over frivolities and trivialities while missing the larger picture. 

Nowhere is this truer than in those who neglect saving for retirement when they are young. 

• I am way too young; retirement is a long way off
• I have plenty of other things in hand
• There is so much to be accomplished first
• Nobody else seems to be planning for retirement

If you have any of the above thoughts, banish them from your head. For that is the beginning of financial disaster! 

It is baffling how so many young professionals study financial concepts such as hedge funds, credit score, derivatives, etc. but forget to plan for their retirement. 

Now to keep you from falling into the same trap, we have compiled a list to help you understand why you should actually start planning for retirement right now :

1. Life is uncertain 

Pandemics, natural disasters, health problems, political crises, are all so uncertain that we do not even know what tomorrow holds for us. 

In a world such as this, the only way to stay afloat is to plan. And to plan well. 

• You must understand that there things about the future that you cannot control
• However, planning for the worst helps you weather the storm when it comes

2. It is easy to think good times last forever. 

As a hot-blooded young person, no one would blame you for not thinking about what could go wrong? 

Young, wild and free, eh? 

And yet deep down, everyone knows that good times do not last forever. 

Age catches up with you and with it come added responsibilities and newer challenges. 

• Do not ever get so drunk on the good times that you forget the bigger picture
• Understand that the comfort of your retirement depends on your decisions today. 

3. To be truly independent. 

Let’s face it – no one wants to live at the mercy of others. Not now, not ever. 

So naturally, the logical thing to do is to build your life in a manner the helps you stay independent – at least financially – throughout. 

• An independent, worry-free retirement should be your goal
• Remember – during your worst times, you are your only best friend

4. Times flies faster than you think. 

As you get older, before you even know it, decades seem like years and years seem like months. 

As the lyrics of a popular song go – 

The years go by as quickly as a wink

So while you enjoy yourself, don’t forget that you have a long life ahead of you. 

5. To make your dreams come true. 

Close your eyes and imagine for a moment what you would want your retirement to look like. 

You could be thinking of a large family, a large home, cars, solitude, anything. 

But all of them require you to have at least this one thing first – peace of mind. 

And you know what leads to the best peace of mind? Yes, financial stability. 

So you know what you need to do for that – start planning today. 

6. The longer the horizon, the easier it gets 

Saving money certainly isn’t the most fun thing to do. We want to take life as it comes while struggling with the reality that we ought to make provisions for our future. 

This struggle gets a lot easier once you start saving early as that would mean you have more time to accumulate money for your retirement. 

• Understand that starting early will save you the burden of having to save too much money later
• It is easy to save money when you are young and have fewer expenses in the form of healthcare, and so on.

7. To live stress-free. 

Stress is a major contributor to mental health challenges and other health complications. And that’s a big no at the age of your retirement. 

One major contributor to stress is financial worry which can easily be avoided by some clever planning, learning about finance options such as credit-card no credit check, and some discipline. 

• Keep in mind that it is better to spend a bit of time today and do something about the future than to worry about it later
• A peaceful retirement is highly desirable to all, and you should work towards it

8. To support your favourite organisations. 

Saving money for your retirement helps you to have enough money to continue giving money to your favourite charities and other organisations, even if you are not actively working. 

• Decide what causes you want to contribute towards in the future
• Think about the impact you can have on the lives of others long into the future with just some discipline today

In conclusion

We get it; you are young and ambitious. It is hard to think about the long-term future when you are so caught up with a thousand different things. It is natural to forget to plan for your future. 

All we want to tell you is that you must recognise the need for retirement planning today. Look around you; there will be plenty of people struggling with finances in their advanced years. 

It is terrible. 

The baby-steps that you take today will reward you richly in the future. 

Remember – 

• Your future is in your hands alone
• You must learn to stand on your own feet – not just today, but always
• It is a blessing to have a peaceful, happy retirement
• Nothing should ever stop you from reaching your goals

The Greek philosopher Aristotle said, 

Happiness depends upon ourselves. 

With that in mind, go forth, enjoy responsibly, and may all your dreams come true!