NEWSLETTER WEEKLY – THE BLIND SPOT IN THE MIRROR

When driving a car there is the phenomenon of the blind spot.  If you are not very careful you will have an accident because you cannot see what’s there.  Sometimes as workers struggling to advance in our careers, putting everything on the agenda but our futures, we hit a blind spot.

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It is amazing how quickly youth turns into middle age and middle age turns into the senior ages that lead into retirement.  The sudden changes of age and what comes with age is unforgiving.  There is no real warning and yet it appears as suddenly as day passing into night.  I often hear a dear friend of mine say, “I went to bed very young and I woke up an old woman.”  It sounds funny when she says it, but there is more than a grain of truth to it.

When we are young and just starting out many things we wish to purchase are less expensive, like insurance.  The caveat is we don’t believe we can afford it on seemingly very limited income.  The average American has more resources as they age because they have grown in their jobs, gotten promoted and have greater incomes.  Although their purchasing power is greater, what they wish to purchase is much more expensive than had they purchased it 20 or 30 years prior.

It is really a matter of the thought process.  Many of our parents never reached the financial borders we’ve crossed.  Yet, some how they managed to keep up the premium on the whole life insurance and there was always enough money to put them away when the time came.  The statement in no way advocates for purchasing whole life insurance, it is merely a demonstration of prioritizing what is important to assure we are taking care of the final business of our lives.

We have better jobs and resources than our parents for the most part.  We are better educated and have greater access to knowledge.  The information highway is boundless.  We even have better health care than our parents, but I am not sure if our planning skills are as good.  Is having more really the answer to good planning or is good planning predicated on how one views the world?  I don’t know the answer.  There are, however, too many individuals who work their entire lives and at retirement, are not ready emotionally, mentally and most profoundly – financially to retire.  When we don’t prepare for our future, suddenly we are awakened by a crash – we just hit the blind spot in the mirror.

It is never too late to start planning for your retirement future.  It is only too late if you never get started.  The earlier you start planning for your future the more wonderful your future will be.

P. S. Always Remember to Share What You Know.

Dianna Tafazoli