Saving for retirement is something that seems to have fallen greatly out of favor these days. The principal reason for this is the obvious blow dealt to the stock market; in the face of the current calamity, many are now shrugging their shoulders and asking, “What’s the point?” In addition, more and more companies are doing something we never thought we’d see – drastically reducing, or suspending altogether, matching contributions to 401(k)s. Granted, they’re taking this step to help avoid taking the more draconian step of laying people off, but it’s yet another cue to many that perhaps saving for retirement should not sit as high on the totem pole of personal financial planning objectives as it once did.
It’s understandable that you’re less-than-enthusiastic about thoughts of retirement planning, at present. If you know me at all, you know I don’t really believe in the retirement concept, anyway. However, I do believe in saving for the future, for a whole host of reasons that don’t necessarily have to do with a plan to stop working while you’re still able. As bad as things may seem right now, there will come a time when you will want to have a large sum of money set aside when you have some opportunity to travel, want to work less, or simply reach a point when you can’t work at all. That day will come. Forge through today with thoughts of making it through to tomorrow, and remember that if we see another global economic implosion in the future like the one through which we’re suffering today, your ability as an older American to survive with room to spare will likely be directly correlated to how much money you’ve accumulated overall. Think about it.
Robert G. Yetman, Jr. Editor-At-Large www.Christianmoney.com