It’s often difficult to find the motivation to save, especially if you already don’t make a ton of money. After all, you work hard for what you have, so why should you squirrel it away for the future? Why not buy something fun for yourself today? Trust us, we get the feeling. There’s always some new toy that looks oh-so-appealing in the shop window.
However, the same appeal that makes you want to scoop up a shiny new video game or outfit can be what helps motivate you to seriously save. Think about it: when you’re turning 70, are you going to want to be putting in shifts at your same old job to make the bills on time? Let alone scrounging to save for new expenses that your older age incurs, like medications and doctor’s office visits.
Picture what saving can do for you, and make that as appealing as the shiniest, newest thing that’s calling out to you.
When you think of retirement, you might not even be able to visualize what it looks like. This goes double for people who are thirty-five and under. Millennials have grown up in a world where “retirement” sounds as fantastical as “Bigfoot” or “UFOs.” Sure, some folks believe in these myths, but there’s no evidence that they’re real.
However, it’s important to think about your retirement seriously. It’s easy to hand-wave the concept and not think about it. It’s much harder to start saving and seriously reckoning with reality. With each day that passes, you get older. You need to have an exit plan for when you’re too old to work. Visualize what this looks like, ideally, for you.
Maybe you’re on a beach somewhere in the Caribbean. Maybe you’re in a nice cabin in the mountains. Or, maybe you just visualize a modest home where you can live out your retirement surrounded by family and happiness. Those are all great goals!
Take this dream version of your retirement and let it drive you. Picture the beach, the mountain lodge, or the warm family home. Make it real in your mind, and then do the research. How much will you need saved up by the time you’re 65 to make it a reality?
When you’re armed with both information and an achievable goal, you can make an action plan. You can start saving a set amount each paycheck into a retirement account that will work for you. You can start really planning for your future. Let your dreams drive you. Visualize your future, then achieve it.