If you are a charter member of the Over the Hill Gang, or almost a member, you need to start planning for retirement.
Mid-year is a good time to take stock of your retirement accounts.
That’s not reality. You need to plan for the soft side of retirement as well as the financial side.
The reality is that may not be possible for a variety of reasons.
The reality is Social Security was designed to replace only about 40% of your current paycheck and less if you are a high wage earner.
The reality is there may not be much money left to inherit.
The reality is if you start later in your working career you will need to save more money than if you had started younger.
If you are smart enough to start your own business, you should be smart enough to start a retirement plan as well!
Retirement planning should start with your first job. The sooner you start the better.
Current thinking has 65 as the normal retirement age because at one time a worker could collect full Social Security benefits at age 65. No more.