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.