Not Enough Money For Retirement? Who’s To Blame?
The stats are startling. Most Americans do not have enough money saved for their retirement. And I am sure this is true for just about every country out there. (If you are in this group, please read this entire post to find a realistic and accessible solution).
The question is, who is to blame?
The short answer is that every individual is to blame. If you do not have enough money saved when you reach retirement age, there is no-one to blame but yourselves. After all, every person is responsible for themselves and their financial futures.
I know a lot of people don’t like to take responsibility for themselves and want to blame someone else… but what would that achieve? At least if you admit it is your fault, it gives you the power to take action and do something about it.
I will say one thing though… most people are set up for failure right from the start.
You see, it is the mentality most people have and are taught by society. Most people are in a situation where they are supposed to “Save and Spend” for retirement. In theory, they save during their productive, working years and then spend that money when they retire.
But in practice, they really adhere to an “Earn & Spend” mentality. They make money, and then they spend it. Even worse, a lot of people make money and then spend more than they make. In either case, there is nothing left for saving.
There are a whole host of reasons this happens. Life keeps throwing things at you (student loans, house payments, children, college tuition, etc.). It is easy to get caught up in trying to live the life you think you deserve, instead of living the life you can afford… and save for retirement.
I’m not going to say the answer is to “start saving more”. For most people, it is too late for that already.
The solution is to change your mentality to a “Own & Invest” mentality. This is the mentality wealthy, financially secure people have. They own their own businesses and invest their money so their money makes money. Basically, they put themselves in the situation to maintain an income for life.
And if money keeps coming in, even in your “retirement years”, it is a lot easier to maintain financially secure, rather than rely on what you’ve already saved.
I know a lot of you might be thinking you don’t have enough money to start a business or couldn’t possibly run a business well past retirement age. Well, that is true of most business opportunities. But there is something you can do.
Please read this to get the answer.
It is not too late to create an income for life, and enjoy financial security.
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