Based on the studies some american's who end up broke when they are already retired or about at the age of 65 is because their lack of planning for their retirement. While some others who planned their retirement are getting insurance but they just did avail it but not fully know the provision of contract so when the time comes for pension they will find out that they can't avail it. Because as explained from the studies we spend more time planning our vacations that our retirement. Would you agree to that? why?
[question posted by newuserptc]
responses and comments:
oh absolutely! people tend to live in the now and the present and figure the future will take care of itself which is not entirely true. [cher913]
Yes I agree, people will plan more for a vacation, than they will their own retirement, i guess they think it is years before they retirer but with the way the economy is not you have better plan for you retirement, because the government is talking about cutting out people social sercurity check, you better plan now, before their won't bo nothing to plan for.sadsadsad [notlistening2]
A couple of years ago I would have agreed with that. The retirees you see today are from a different generation. Many allowed their employers to plan a sufficient retirement. Pensions are a thing of the past. Sure you may have a decent 401k with a 2% match. That isn't going to put you on easy street. Most people of working age seem to come through these recession/depressions with a greater sense of need for financial independence and security, especially in their golden years. I think we'll see an inevitable turn in the average attitude when it comes to retirement. I'm 37 and I can tell you that a lot of my friends and peers are actively investing in different markets. In particular, markets that lend themselves to tangible items like real estate, commercial properties, as well as securities. At this point I will forgo a BMW to allow myself to capitalize on opportunities for future wealth. I don't think many of today's workers are counting on a pension plan or government subsidized security for the elderly. At least I hope not. That's a suckers bet. Love & Luck. [batcountry72]
Why is it they are more on future wealth and doesn't mind that they need more than 200k USD when they retired to age of 65 or less to sustain the rest of their life as an elderly. [newuserptc]
No, I don't agree. I spent decades planning for and executing a retirement plan. I am now living that retirement. The most I've ever planned for a vacation is a couple of days, at most a week. [hofferp]
I agree that they don't mind about their future but their present. BEcause their thinking their future depends on their present life. LIke in decision, what your decision in present affects your future really big. I guess the right thinking is planning about your present for your retirement. I guess we need to have knowledge about this before its too late. I also don't have a plan for my retirement, but this is an eye opener for me. [grecychunny26]
That exactly one of the reason I started this topic because I can see that most people who usually have the capability to avail an insurance are not aware that they are more investing in materials things in present and only contended on the amount that they had pay for the government agency who managed the pensions they thought that would be enough for a pension so they keep wasting money buying things that they don't actually needed. [newuserptc]
well, not all people tend to do that way, I mean some people are responsible enough to earn for their retirement and others may have a bigger income so what others do is they plan for vacation and every year they spent some of their money for vacation rather than saving it for future needs, especially now that the world is on crisis, we must save first for our future rather than spend it on a vacation while having a vacation is not bad of course we need it for leisure but what is needed now is food, clothing and other personal needs while having a vacation can wait for a while. [Joseph_Ryuki]
Yes it is because they have no leave problem and the worry of joining the work again and limited leave problem so they plan for enjoyment and hence they plan for vacation more then worruing for their retirement as they know what they will get after retirement so why to waste time on that [kgirjapurkar]
hello newuserptc, i guess because people more have urge vacation than retirement.vacation is just a distance from our needs, while retirement still have ten or twenty years distance. [ifa225]
It is indeed that is why we have given a lot of time to prepare for it because from retirement to the day we died is also way too long nor too short but how will we live this day if we are not financially prepared. [newuserptc]
As far as I am concerned, I think it is a true that many people who are going to have a retirement,they just plan to have a long trip all over the world, if they can have the ability to afford the money. They think that a journey will do a lot good to their body health. Besides, they will also relax a lot from the trip to the places. [monkeylong]
That is actually one of the reason why should people focus on saving and having more than one pension plan while they have the capability to work and pay for it so that when the time comes for them to retire their financial need will sustain most of the things that they want to do. [newuserptc]
First I must admit I was not interested in this topic at all but drawn in by the bikini picture and that intriguing tattoo. Out of curiosity what does it say? On another note people absolutely spend more time planning vacation than retirement. In the moment which seems more important, getting out of your stress invoking job for a week or laying on the beach sipping on Pina Coladas thirty years from now? Thats what I thought... therein lies the problem. [wildcard]
Yes, now a days a lot of people are fond of travelling and vacationing and they fail to save some of their money for their retirement. They always say that it is better to enjoy your money now that you can still really savor the fruit of your labor than to enjoy it when you are too old and spend it for medicines. [sharlionse]
as I have seen my relatives and friends, all of them are well established and very prepared for retirements. They are very fond of going in tours also. So I don't think this could be applicable for them. [vajradev]
I don't agree, it depends upon the person. If you think for your future when you reach the age of retiring age, you will plan for it. You can take a vacation anytime you want, but make sure your retirement is clear and ok. What is important is to secure you life when you retire. I do agree that person do plan their vacation after their retiring age using the pension they will be receiving. When all is fixed and ok, you have all the time to take vacation and be happy with your pension. [gennyk]