subject: Saving And Planning For Retirement [print this page] We are in our late 40'sWe are in our late 40's. Retirement seemed a very long way off until recently. All of a sudden it is right around the corner and we aren't even close to being ready. We have dreamed all our lives of retiring in our mid 60's and traveling and playing together while our health was still good. The reality is that retirement is now only about 16 years away, and if the next 16 are any thing like the last 16 they go very quickly. Our children are growing up and they are costing us an arm and a leg with college, weddings and other expenses.
We thought we were better prepared but have quickly drained our savings accounts. We lost a third of our retirement in the stock market in a single year. We panicked and pulled out, the stock market has since rebounded but we didn't make our money back. We have since reentered the stock market on a more conservative level but missed the rebound. We watched my parents lose everything in bad stock options and we overreacted, I guess.
We are now on a save plan. I do need to learn about option trading and other areas of the stock market, I tend to be a little jumpy when I watch our portfolio decrease quarter after quarter. So we have been trying this year to spend less and save more, but it is hard to see the balance sheet grow so slowly. The stock market can grow your money safely and conservatively if you have the right portfolio.
Retirement, something we all dream of; sandy beaches, exotic travel and plenty of time to garden and golf or what ever your particular passion is. I want to spend years with my pottery wheel and touring Europe. I guess we would be better off dreaming less, saving more and spenting less, understanding trade options then maybe we could make these dreams reality. Saving and planning for retirement. It is never too late to start. And it certainly is never too early to start. In your early 20's would be ideal, that would give you lots of time for your money to grow a nice nest egg! Keep planning, keep saving, keep investing wisely.
by: Art Gib
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