This Article is About
one of the lucky ones
household appliances
greener pastures
climate change
going to college
Planning For Retirement Your 40
Join 1000's of Authors at StreetArticles Today!

Planning for Retirement Your 40

Your married have a few great kids and a decent home and you still have your health, great. It is not too early to start planning for retirement your 40 and your not going to get any younger.

What Comes Next

Are your kids going to college or university? Kids starting to get married?

The house needing a few repairs, how are the household appliances holding up? That car you bought years ago is it holding together for you, does it start all the time and never leaves you out in the rain.

You and the wife are in good health and need no special assistance or medications, as of yet. Not to say you will need them but speaking from experience, not many grow old without feeling age.

Pension and Benefits

For the sake of argument, let’s say you have a pension and benefit package. You have been one of the lucky ones and only need another 15 years for a full pension.

Have you been keeping up with what is actually going on in the world today or have you been caught up living life and not been paying attention to what is happening, it happens.

The economy is falling apart; companies are closing up, moving away to greener pastures. Pensions are being cut or taken away completely, along with the benefit package that you will need to rely on.

Going Up

The price of everything keeps going up all the time, lately it seems a few times a year. Oil is on shaky ground how much oil does the earth have left? Hydro here in Ontario is expected to go up steadily for the next five years.

Another increase in food prices, as the earth is warming and affecting our food supply. Climate change is affecting the way we live our lives, it is only going to get worse.

If you or the wife needs extra health care assistance, will your benefits pay?

In Conclusion

You retire with a fixed income, which means that is it, unless it goes down it very seldom goes up.

Where do you get the income that will keep your head above the waves of despair, you are 65 all of a sudden, and that good health is not there anymore? Not going to be easy to get a job now, where do you turn.

You were young went to college as your children are doing now, received your education and out into the work force you went.

Going back to school is not that appealing, but getting some education online is a possibility, done at home, on your own time. Maybe even start your own online business.

Planning for retirement at 40 is a good idea because the next thing you know your 65, then what. Take note age creeps up on all of us, I know I use to be 20 then 40 now in my 50’s, sixty five is not that far away. What will happen if you do not plan for retirement now, 65 is too late.

Street Talk

Good information.

  about 1 decade ago

Glad you enjoyed...

  about 1 decade ago
Joan S  

I've always thought that I never want to retire, so that won't affect me. Those are thoughts of a healthy young person, even a healthy older person. However, there are many circumstances in which a person has no choice. You mentioned a few of them. Who ever anticipated this economy? Preparing for the future by being proactive, entrepreneurial and learning new skills is an excellent way to protect yourself and family for any eventuality. Good one Tim.

  about 1 decade ago

Thanks Joan and really if you would have ask me 10-15 years ago, never would have thought it would have gotten this is all over the world...just crazy....planning and being prepared....makes sense....being unprepared and caught unaware.....not going to be fun for most I see them everyday taking the slow ride to destruction...

  about 1 decade ago

I think retirement planning should start when you start work as we will live a lot longer than any other generation. But you have a family and mortgage up until you are about 40 so finally free up some cash. You make some great points here to start thinking about it at 40

  about 1 decade ago

Will the government pensions be enough, if they are there when we are in need...lets hope so....most occupations these days in house pensions are a hard sell for companies...the cost is just that leaves us to take care of our selves...without planniing and enough could all go south....thanks for the commment is never to earlt...bettter prepared than not...

  about 1 decade ago
You May Also Like
Income Needed For Retirement
Do you have some income needed for retirement? Whether you are gearing up to retire or have already retired, this guide will show you how you can enjoy retirement, but create yourself an income that could end up even higher than when you were working! Just read the article, take…
By: Dom Wells in  Internet and Businesses Online  >  Internet Marketing   Mar 11, 2014  
  Likes: 7

Planning Your Retirement Needs
What this article is not…a financial guide to planning your retirement. If that’s what you need, you need to either do a search online or go to your local bank and have a chat with your favorite bank agent. I just performed a quick search and most banks and finance…
By: Rick Jantz in  Home and Family  >  Baby Boomer   Mar 17, 2013  
  Likes: 3

How Much Do I Need to Save for Retirement
I know that I have been wondering how much do I need to save for retirement. So I started looking around to see how bad my retirement situation really is. I won’t go into my details but the bottom line is that I’m way behind in my planning for retirement.…
By: C. Hughes in  Investing  >  Retirement Planning   May 31, 2013  
  Likes: 7

Working Backwards From Retirement
Retirement is typically something that’s coming, that we’re working towards. But what if I told you that you should actually be working backwards from your retirement? What do I mean? 50 – 65 Age Group We actually begin to think we’re going to make it to retirement, although, many in…
By: Rick Jantz in  Home and Family  >  Retirement   Jun 04, 2013  
  Likes: 5

Planning for Retirement - is it Just Financial?
If you do a keyword search on retirement you will see that by far the biggest return is for the financial side of retirement and there is no doubt that this is very important. Especially in these days of austerity, pension funds stopping taking more entrants, the prospect of having…
By: Keith Rickman in  Home and Family  >  Retirement   Apr 09, 2012  
  Likes: 0

Why Stay Busy During Retirement?
Do you want to stay busy during retirement? Imagine the scene. You have just retired. You were a very busy executive, manager, shop floor worker, whatever, but as a result you were always on the go. You never had time for those "things" that you always wanted to do. If…
By: Keith Rickman in  Home and Family  >  Retirement   Apr 27, 2012  
  Likes: 0

Jobs After Retirement
It’s a question most of us will ask when we are at or near retirement, What are we going to do after we retire? There are several answers but the two we talk about most are relax and enjoy our retirement or get a job to supplement our income. Relax…
By: John Stewart in  Internet and Businesses Online  >  Internet Marketing   Apr 03, 2012  
  Likes: 3

My VA Experiences Post - Retirement
There seems to be a growing concern in the USA that our veterans are not get quality care for the VA. I cannot speak for all of these veterans. I can only offer my experiences and opinions of the care I have personally received. I have been retired for almost…
By: Rodney L Stanley in  Travel and Leisure  >  Outdoors   May 29, 2012  
  Likes: 2

Retirement And Old Age Homes – Will You Live In One?
Old age homes, where you go to die? The adage that one retires to a home for the aged to see out the last days of one's life, has taken on a whole new meaning for me. You see, due to circumstances beyond our control we've been forced to place…
By: Rob Ainslie in  Home and Family  >  Retirement   Mar 05, 2012  
  Likes: 2

Time Planning In Retirement
Putting a structure to your retirement days and weeks? I spent most of my long corporate life in a very structured environment and when you retire a lot of this structure goes away. Suddenly you find all the meetings, the days schedules, the trips, the acheivements are no longer there…
By: Keith Rickman in  Home and Family  >  Retirement   Apr 14, 2012  
  Likes: 0

Retirement Unknowns
I wonder how many of us give much thought to what our life will be like after we retire. I didn’t give it a lot of thought. I just assumed one day I would be working and the next not. I hadn’t really thought about the adjustments that might be…
By: John Stewart in  News and Society  >  Pure Opinion   Mar 04, 2012  
  Likes: 1

Work After Retirement
Retirement. A time to look forward to for some. A time to worry about for others. The others know they will have to work after retirement in order to maintain their current lifestyle. I for one have never looked forward to retirement. For one thing it meant I would be…
By: John Stewart in  Internet and Businesses Online  >  Affiliate Revenue   Apr 04, 2012  
  Likes: 3

Four Reasons Why People Don't Save for Retirement
The need to save Today, people know more than ever that they need to save for retirement. For the first time, probably ever, we have the situation where people who retire do have to then take up employment of some sort to be able to live, yes live. For sure…
By: Keith Rickman in  Home and Family  >  Retirement   Apr 25, 2012  
  Likes: 0

Jobs In Retirement
As I sit facing thinking of my retirement and of having a grim outlook when it comes to any kind of retirement I have to think outside the box..Having lived day by day with really no regard for the future until the future roared its ugly head so to speak,…
By: Shawn Lee  in  Internet and Businesses Online  >  Internet Marketing   Mar 12, 2013  
  Likes: 19

The Top 2 Online Jobs In Retirement
If you have recently retired but finding the relaxed pace of your later years tough going, all is not lost. There are plenty of online jobs in retirement you can get involved with that enable you to work from home. Now you might be thinking, why on earth would someone…
By: Craig Dean in  Internet and Businesses Online  >  Social Media   Apr 02, 2012  
  Likes: 3

Article Views: 2515    Report this Article