If you’re thinking about your retirement with a sense of foreboding, you’re not alone. Lots of people put off retirement planning, but it’s really not a good idea. Start planning for retirement now, and take the steps to improve your overall financial picture. Need encouragement? Here are 7 big reasons to take your head out of the sand when it comes to retirement.

1. People don’t know much about retirement planning. They may think they do, but in reality, only a small percentage can score any better than 79% on this financial literacy quiz.
2. The economy may not be operating in your favor. The middle class is experiencing its worst squeeze ever, with research stating the middle class has shrunk in every state but Hawaii.
3. Social Security has its problems. It is intended to be a supplement to your retirement income, and studies show that in just 16 years it will start owing more than it brings in.
4. Medicare is also in trouble. The program may start failing to meet it’s obligations in 2039, which means retirees may not be able to count on its benefits.
5. Life brings its share of regrets. Reaching retirement age means facing up to some mistakes from your younger years, including:

– Bad investments
– Not saving enough
– Experiences that affect your financial health like divorce
– Not taking care of your health
– Not planning enough

6. Financial insecurity causes stress. The good news is, making a plan now reduces the anxiety that comes with a shortage of money.
7. Getting older can be tough. The right plan means you may even be able to retire early and enjoy more non-working years with your family and hobbies.

Remember, it’s never too late to start saving for your retirement years. If you’re looking for ways to improve your financial health, including tips on retirement, talk to us today.