PROCRASTINATION“I can’t save now” age 35 :
PROCRASTINATION“I can’t save now” age 35 “How can I save now?” Married, the
children…I’ve never had so many
expenses in my life. When the children
get a little older, I can start saving. I still
have plenty of time.” “I still have plenty of time.” To have $1,000,000 at age 65, a 35 year old
would need to save $682 a month.1 Monthly savings needed to reach $1,000,000 at age 65 assuming an average return of 8%.
PROCRASTINATION“I can’t save now” age 45 :
PROCRASTINATION“I can’t save now” age 45 “I wish I could save now, but I just can’t
do it. I have two children in college and
it’s taking every dime to keep them there.
I had to go into debt the last few years to
make ends meet. But that won’t last.” “I still have some time.” To have $1,000,000 at age 65, a 45 year old
would need to save $1,687 a month.1 Monthly savings needed to reach $1,000,000 at age 65 assuming an average return of 8%.
PROCRASTINATION“I can’t save now” age 55 :
PROCRASTINATION“I can’t save now” age 55 “I know I should be saving, but money
is tight. It’s not so easy for a man my
age to better himself. All I can do now
is hang on. Why didn’t I start saving
twenty years ago? “Maybe something will come my way.” To have $1,000,000 at age 65, a 55 year old
would need to save $5,330 a month.1 Monthly savings needed to reach $1,000,000 at age 65 assuming an average return of 8%.
PROCRASTINATION“I can’t save now” age 65 :
PROCRASTINATION“I can’t save now” age 65 “Yes! It is too late now. We are living
month to month. We have our social
security and a small CD but who can live
on that? It isn’t where I thought I would
be but what can you do. If only I had
started when I was much younger.” What happens if we fail? “It is impossible to save when you have no income.” Monthly savings needed to reach $1,000,000 at age 65 assuming an average return of 8%.