Greg Chona

Saving for retirement can be an abstract concept. It’s something we all know we should do, but the farther away we are from it, the easier it is to delay making it a priority — especially when we have other financial commitments nearer on the horizon. If you find you are talking yourself out of saving for retirement,

Consider reframing your thinking. A shift in perspective may be what you need to get on the right track.

Here are some common excuses people give for not saving for retirement — and how you can overcome them.

“Retirement is a long way off.” It’s easy to get wrapped up in your current financial obligations, telling yourself that you’ll prioritize your retirement next year. However, like many worthy aspirations, building a retirement nest egg takes time and discipline. If your golden years seem far away, remind yourself of the power of saving early. Time allows you to tackle your retirement goals in smaller increments with the potential for compounded growth. Retirement will likely come faster than you think, and you’ll thank yourself later for planning ahead.

“I’ll prioritize retirement after paying for my child’s education.” With the rising costs of college, it’s understandable if you to want to help your child obtain a quality education. However, although it may feel like you’re letting your children down if you don’t make paying for their tuition your top financial goal, saving for retirement should take priority. If your retirement savings come up short, you won’t have the ability to apply for scholarships, grants, or financial aid to help bridge the gap like your child might for college.

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