Do you know why most people retire broke? That is the question I asked myself. So I did some research and found these common or typical answers when people are asked about whether they are investing today for the future and preparing a plan for financial security.
At Age range 18-25
"Me invest? Are you kidding? I don't have money! I'm still just getting my education. You can't expect me to be able to invest now. I'm young and I want to have a good time. After all, I'll be in college for a year or so. If and when I get out of college, then I'll probably start investing."
"Do you really expect me to invest now? Remember I've only been working a few years. Things will be looking up soon and then I'll be able to invest. I wan to travel and enjoy life first! Right now, I have to dress well in order to make a good impression. Wait till I'm a little older. There's plenty of time."
Around the Age 35 to 45
"How can I Invest now? I am now married, have children to care for, I have so many expenses in my life. Basically I have lots of responsibilities as of the moment. When the children are a little older, I can start thinking about investing."
From Age 45 to 55
"I wish I could invest now, but I just can't do it. I have two children in college and it's taking every cent and more to keep them there. I've had to go into debt the last few years to meet the college bills. But that won't last forever, and then I can start investing."
Come Age 55 to 65
"I know I should be investing now, but money is tight. It's not so easy for a man my age to better himself. About all I can do is hang on. Why didn't I start to invest 20 years ago? Well, maybe something will turn up."
Age over 65
"Yes, it's too late now. We are living with our eldest son. It isn't so nice, but what else can we do? We have Social Security, but who can live on that? If only I had invested when I had the money. You can't invest when there is no income."
Will you start your insurance/investment now, or will you procrastinate? Make a choice.