Every person in the world is good at coming up with excuses. However, no matter how many you can list the bottom line is what is the result. There are a number of things that people will say has led them to not being able to get ahead on retirement savings. However, it is all excuses. If you have too many regular expenses to put anything in savings then you need to adjust your budget. That means staying home for dinner and getting a cheaper car if you need to. I started too late. Then put more away than you think you should. It is that simple. To compensate for waiting, you will need to make more sacrifices now in order to be happy and comfortable later. I have kids. So do a lot of people. That does not mean you cannot plan for yourself. Consider how much you spend on things your children do not really need. Then look at where that money could go, if not in retirement, then a college fund.
Joseph Leonard is a registered Investment Advisor in North Carolina, author of The Retirement Vault and founder and CEO of the Financial Management Company in North Carolina, Coastal Financial Associates.
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