There are those who observe the lifestyles of some of their peers. These observers are still working though they are in their 70s.
They watch other seniors going on vacations, playing golf regularly, and doing extraordinary things for their children and grandchildren. These individuals marvel at how “lucky” some people can be.
If they knew the whole truth they would recognize the fact that these successful retirees had the foresight to plan ahead carefully as young adults. They measured every purchase for years, invested wisely and always acted with the future in mind.
At this exact moment how bright is your future? Have you begun making any plans that lead to a particular financial destination?
Social Security is a safety net, not a retirement plan. It can certainly help, but you must be realistic and practical as you gain an understanding of what you can expect to receive from Social Security and supplement it accordingly.
You can find out where you stand with regard to Social Security by registering an account on the Social Security website. It will then be possible to access your statement that will let you know what your anticipated benefit amount is based on your work history.
When you do obtain this information you will recognize the fact that few people can retire comfortably on Social Security alone.
Retirement planning is a long-term process. If you get started early enough and work within a cogently conceived plan with consistency over a number of decades you may well be one of the “lucky” ones.
If you have no plan at all as you take life one day at a time you may find yourself working during the latter portion of your life while others your age are relaxing.