Get Ready For A Long Retirement
My daughter has a birthday coming and she can't be more excited
. She is so ready to be another year older.
Although I enjoy my birthdays, I can't say that I really look forward to getting older. But no matter how old I get, my older relatives will still make light of my age. They tell me that "50 is the new 30."
I used to think that they were being funny, but it's unbelievable how true that statement really is. If we look at how life expectancy has changed over the years, it's not hard to believe that 50 is now middle aged in America.
When America first became a country back in 1776, life expectancy was about 35 years. By 1900, life expectancy improved to age 47. In just over 100 years, life expectancy has risen by 12 years.
Now look at this. In the year 2000, life expectancy rose to age 77. So, in this 100 year period, life expectancy rose by 30 years. That is a remarkable jump - almost a triple jump - from the last 100-year period.
In a study by Hartford Financial Services, it was estimated that about 18% of 65-year-old men today will live to age 90 or beyond. The same study suggests that 29% of 65-year-old women will live past age 90.
The bottom line is that we are growing old gracefully. We are spending just as much time in retirement as we did in our working years. Psalm 92:14 rings true. It reads, "They will still bear fruit in old age; they will stay fresh and green."
Are you prepared?
The question to ask ourselves is, Have we taken the steps required to ensure that those retirement years will be both comfortable and enjoyable? Are we financially ready for the long road that is ahead of us?
There used to be a three-fold method for planning for retirement: pensions, Social Security, and personal savings. That may not work anymore.
Pensions are a thing of the past. Companies are freezing or closing pensions and replacing them with 401(k) plans that require employee contributions. If we don't personally contribute to the 401(k) plan, we cannot expect to see a big retirement nest egg when it's time to make that transition.
We must remember that our Social Security system started in 1937. It promised to provide lifetime income to Americans back when people only lived into their 50s and 60s. That worked then. It doesn't work now. Don't count on the Social Security system to keep you financially set in retirement.
As Christians, we know that everything will all work out for good. God will provide where the system does not. Isaiah 46:4 says, "Even to your old age and gray hairs I am he, I am he who will sustain you. I have made you and I will carry you; I will sustain you and I will rescue you." (NIV)
But, we have to do our part as well. We have to put more emphasis on the third leg - the personal savings. Don't put so much energy on the present that you don't prepare for the future.
by: Ozeme J Bonnette
Retirement speeches should be about get up and go! Criminal Defence Lawyer - Find a Criminal Defense Attorney Drunk Driving Lawyer - DUI Lawyers DWI Attorneys help How Early Can A Person Consider Retirement? A Look At The Different Types Of Chicago Lawyers That Are Available To Represent You Important things to consider when going for a retirement or pension annuity How to select the best pension annuity and enjoy your retirement? Why the Demand for Houston Criminal Lawyers Increasing Rapidly Enjoy the Best Phase of Retirement in a Retirement Facility Are You Interested In Investing In Apartment Buildings Drunk Driving Attorney ? A Dui Charge Requires A Top Level Lawyer Dui Defense Lawyer -- You Got Arrested For Drunk Driving, Now What? What To Look For When Choosing A Lawyer