money management

Are you thinking about retirement?


Good morning Loves.  I don’t know what it is about this time of the year but I always re-evaluate my life.  Do you ever check yourself?  I do it every year during the summer time, in October around my birthday and of course in January when I start getting the winter blues. I like to plan everything in my life from money to vacations and for some reason retirement just never seems to make it onto the list.

Are you planning for retirement?

I save for retirement and I often use my employer’s retirement calculator to make sure I stay on track to retire at 61, yet I don’t consider retirement on my list of personal or financial goals.  Maybe I’m not focusing on retirement as a goal yet because there are several other things I want to do before age 61.

I want to go to Italy, I want to be on a game show – preferably The Price Is Right and I really want to learn how to speak Spanish.  I am saving for retirement, but I’m not really planning for it.

How much do you need to save?

I know as you read this you are probably thinking…WOW she’s going about this all wrong.  But I don’t think so.  I believe in enjoying your money.  I don’t want to retire with a bunch of money and not be able to enjoy it for health reasons – or any other reasons.

I believe in saving for what I want, but I don’t believe in scrimping on my life now in order to save for the future.  I save what I need to for retirement and not a penny more.  Of course I could retire earlier if I saved more now, but that would mean I would be missing out on things that I want to do now in my 30s and I’m just not willing to give that up.

What are you saving for?

Maybe your number one financial goal right now is retirement and maybe you are putting every single extra dollar you have towards your future.  That is a great financial goal, but think about what you are giving up in the short term.  Don’t get me wrong, I am all for planning for the future, I just don’t think retirement should be your only goal…at least it’s not for me.

The key to having multiple savings goals is to find a balance between the short and long term.  No one says we have to have only one goal, so why not set several goals to make you happy in the short term while saving for retirement at the same time.  You can maximize your employer retirement and savings plans and set up automated transfers from your checking account to your savings account.  This ensures your savings fit right into your budget.  If the money is transferred from your checking account to your savings account before you even wake up on pay day you won’t even know it’s gone.  If savings don’t infringe on your lifestyle you are more likely to stick with them.

What are your financial goals?

Photo from Flickr


  • Financial independence.

    I hate the stress of my current career and the fear of not having enough money so I save a high percentage to try and get rid of my biggest fear.

    I hear you on living life now but for me the stress of money and career are so strong that I can’t think of anything I would rather do with my money then buy myself freedom.

  • Scott that’s a great point and I completely understand where you are coming from. I know a lot of people live on less now so they can save for their retirement, I’m just not one of them. I do save for retirement but I don’t put every penny away so I can retire at 40.

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