The choices that you make in the present most definitely have a significant impact on the future. This is true on many different levels, and it is certainly a fact when it comes to retirement planning.
Making the simple decision to act conservatively as you save money for retirement can make an enormous difference in your life when you achieve senior citizen status. Social Security will help, but it is not a comprehensive retirement panacea. Social Security payouts are modest, and though Medicare will provide a health care foundation, it doesn’t pay for everything entirely.
Aside from simply having the ability to get by, when you have free time on your hands you want to have the financial resources that it will take to enjoy this freedom. Many people have a list of things that they have always thought they would like to do when they have the time, but it takes money to do these things as well.
A study was recently conducted by the National Bureau of Economic Research, and it found that 46% of Americans ultimately pass away in possession of less than $10,000. This study also found that a significant percentage of these individuals were almost entirely dependent on government programs.
For most people, sustained financial discipline with specific goals in mind will be necessary to accumulate the resources necessary to ultimately retire comfortably. If you get started early enough and stick to a cogent plan, you should be able to achieve your goals. If not, you may well be among this 46%.