Why Thinking About Your Retirement Early Isn’t Always a Bad Idea

Many people would argue that thinking about your retirement before you’re even in your 50’s is a bad idea. On the opposite end, some people believe that you should be thinking about retirement as soon as you hit 20. These are two extremes that don’t really help us when it comes to talking about retirement, so when exactly should you think about it?

The answer depends on your personal circumstances.

If you’re still bouncing between jobs or haven’t found what you want to do for the rest of your life, it can be difficult to even think about retiring since you’re not settled. If you have a family now but you’re still switching careers and workplaces, then it might be a good time to start thinking about it so you can settle down with one company and focus on the benefits of being a long-term employee.

On the contrary, if you’re already settled with your job and have a family, then it’s probably a good time to start thinking about putting more money into your retirement fund.

A lot of people also think about their retirement when they start experiencing health difficulties. Perhaps you’re not feeling as physically strong as you were before, or maybe an illness has made it difficult for you to be yourself. In situations like this, it’s never a bad idea to consider long-term plans, such as the infographic we’ve included below that discusses end-of-life planning.