When Should You Start Preparing for Retirement 

Written by Monique R. Williams, Licenced Insurance Professional

That's a question that should be asked more frequently these days. We all know that Social Security is not guaranteed after about the year 2041 unless the government performs some type of miracle to allow the fund to last longer. With this in mind, we as individuals should start preparing for our retirement Day 1. As soon as you are able to work you should start preparing for your retirement. When we are young most of us have or had the attitude of living for today and not worry about tomorrow. Well, statistics show we are living longer and some seniors are actually outliving their savings they had put away for their retirement from their 401k, IRA's, pension plans etc.

So why not start right now putting away as little as $25-$150 a month for your retirement. Or as my colleague says let the YOUNG YOU take care of the OLD YOU. Let's break that down to about .84 -5.00 a day. Now think about it, that could be a coke you could give up, some chips, candy bar etc. When putting that money aside place it into a cash accumulation plan that will gain a considerable amount of interest and would allow you to have a monthly income for the rest of your life. We don't even realize during our lifetime we actually earn at least 1.2 million in 40 years on a $30,000 a year income but it is how we handle our money in the present will determine how we live tomorrow. So instead of putting your money into put and take accounts such as checking accounts, savings accounts, certificates of deposits or other miscellaneous investments, put your money into a Put and Keep plan that will keep your dollars safe, pay yourself first and then you end up with a lot of money.
As I conclude think about this......

A study was done of 100 people, by the time these individuals reached age 65

1 was wealthy
4 had an income
3 were working
16 had died
76 were dependent

Question: What group would you like to be in? To find out more about Put and Keep accounts you can contact My Benefits Direction at 713-503-8948.