Why is so important to have retirement plan?

Answer 1

Think, for example, about what you want for yourself or from your business /if you have one/.Imagine that you have a business- In many good wishes, a retirement plan is your life strategy. For those with family members, business partners or employees interested a plan can also help with their life strategies and get rid of their doubts.
Retirement planning can also be an effective tool for smoothing out family, partnership or management differences. Planning calls for collaboration and long-term thinking about personal needs. Retirement plans also offer major benefits for day-to-day operations and the long-term strategy for your business. With planning, you can actually take steps to increase your business' value in the eyes of investors, lenders, suppliers and customers.
If you are looking for more details visit:
http://small-business-finances.blogspot.com

Answer 2

If is never too early to start planning for retirement.

For example, at age 20 you have put $10 into savings and say that money doubles every 8 years, you will have $320 by the time you are 60 years old. If you put the same $10 into savings when you are 36, the money only get to double 3 times before you reach 60, or ONLY $80 instead of $320.

Worse if you wait until you are 44-year old to start saving, even if you put $50 into saving you will never catch up with someone who put only $10 away at 20-year old and not another dime since.

Okay, say that you are rich and do not have to worry about retirement, retirement planning is still a good way to save some tax dollars.

Answer 3

Because if you are thinking that by the time you retire you'll be able to live off your social security. Oh God you are so wrong, by the way things are going in this country, cost living, recession etc. You do need a retirement plan so you can actually have a good quality of life and good retirement after all those years of hard work...

Answer 4

Because social security is about to go bust, and companies are constantly wiggling out of paying their pension plans. The stock market is also a risk, especially with all of the soon to be retired folk invested in it. They are going to withdraw their money from the market so that they can retire. You need to have a plan for yourself that includes enough cash available to support you when you aren't working anymore.

Answer 5

The sooner you start planning for retirement, the better. Although not an absolute guarantee, it is much more likely that you will meet your financial and non-financial goals with early planning than without it.

Planning allows you to assess your situation and identify potential problems. Early planning provides you with the opportunity to improve your situation and to deal with the potential problems identified.

Some of the benefits of having a plan include tax deductions and tax deferred growth of the investments.

If you don't plan - chances are you'll be working for a long, long, long time.

Answer 6

So you don't have to eat dog food from the dented can bin and live in an abandoned pickup truck in your "golden" years. But if that's your thing, party on and squander your retirement today.

Answer 7

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Answer 8

It is because without one you might find out that you have no money of your own when you retire from your old job. Then without money you have no house, no way of paying your bills etc.

Answer 9

Very important. Do you want at the age of 65, instead doing social volunteer or things you enjoy, You want standing at Wal-mart bagging for someone else bag?
social security is a scam, pension fund is dead. that why personal responsibility coming in

Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.

http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com section university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:

fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy

technical analysis==(chart+indicator)>> when to buy

Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live

At the age of 32. my 401k is amassed 74,000.00 and 30000.00 in taxble account. by follow simple rule

Answer 10

hmm well do you want to have money to live on when your retired ??

how else are you going to pay bills and eat with out saving money and don't expect your SS will get you through !!