In just a couple of days, you’ll gather with family and friends for the first big holiday of the season. And as much as you look forward to carving the turkey and digging into the cranberry sauce, awkward conversations with relatives you hardly ever see can put a damper on the occasion.
You know what we’re talking about……..
“So, anyone special in your life?”
“When are you planning to have kids?”
“If you’re looking for some extra income, I’ve got a great opportunity for you!”
It takes a certain amount of grace to field questions and comments like these between bites of pumpkin pie, so be prepared.
Here’s another topic that is bound to come up: bad retirement savings advice.
Such as……
1. You’re Too Young… Er… Old to Save For Retirement
An early start is key to building up enough savings for a comfortable retirement. The sooner you start, the more compound interest works in your favor. Putting off retirement savings by just a few years can make a million-dollar difference in your nest egg!
On the flip side of the age coin, you’ll find folks who say they’ve missed the retirement savings boat. But it’s never too late to start saving for retirement. A focused plan can make a big difference in your retirement outlook in just a few years.
2. Stay Safe at All Costs
You’ve probably got plenty of well-meaning relatives who just want you to play it safe in everything from the way you drive to the way you save for retirement.
There are no guarantees in life, so don’t let others dissuade with their fear tactics. Here’s what you should do: spend wisely, save up for emergencies and talk with a professional before making investment decisions.
3. Don’t Worry, Someone Else Will Take Care of You When You Retire
“Why even plan for retirement? The government will take care of you.”
“Your parents have money. Just wait until they croak. Problem solved!”
“Have a bunch of kids so they will take care of you.”
The fact is, your retirement is your responsibility and no one else’s. Not the governments, not your parents and not your kids. So, don’t leave your retirement plans up to anyone.
As you well know….
Bad advice is easy to get.
And well-meaning friends and relatives will dish it out right along with the mashed potatoes and gravy!
“There are as many forms of advice as there are colors of the rainbow. Remember that good advice can come from bad people and bad advice from good people. The important thing about advice is that it is simply that. Advice.” – Al Franken
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Until next time…..
Agree or disagree? I love your comments! So please let me know your thoughts in the comment section below.
I look forward to hearing from you!!!
Althea
Helping God’s people realize and achieve their true financial potential, become debt-free, build wealth and give generously!!
PS. Financially, most of us know what to do; we just have trouble doing it. That’s where a coach can help. CONTACT ME for a FREE 15-minute consult.
