If you look at some recent polling that was conducted by the Association Press in partnership with LifeGoesStrong.com you find that a significant percentage of baby boomers are not properly prepared for retirement. Approximately 25% of the people who participated said that they would never be able to retire because they did not have the financial resources to do so.
There are some mistakes that you can make that are not all bad because you learn from them. However, a failure to plan ahead for your retirement years is an error that can yield very harsh results. If you don’t want to find yourself going to work until you are physically unable to do so you really have to devise an intelligent plan and stick to it over the years to accumulate the financial underpinning that you need to enjoy your golden years to the fullest.
When you see people who are making the most out of their free time as senior citizens they were able to get into the position that they are in by looking ahead to the future. If you earn a good living you should be able to put aside the money that you will need to retire in comfort, but the sooner you get started the better.
If you simply don’t know where to begin, you are not alone. The intelligent first step would be to pick up the phone to arrange for a consultation with a licensed and experienced Somerset County retirement planning attorney.