Many people look forward to the day they can retire. There is no special retirement age. Although Social Security benefits can start at a certain time in life, retirement really only begins when a person has the financial resources to no longer work. Planning for the day to stop working should be a top priority financial goal for everyone.

Not having the income for living expenses and health care can be a big obstacle to making the decision to retire. Without adequate money, it can lead to depression and anxiety. The result is a reduction in quality of life. This is not a situation anyone deserves to be in during what should be their golden years of enjoyment.

Retirement planning is a long-term goal. It is not something that is easily achieved, but it does not have to be hard. The fundamental requirements are saving and saving often. It is never too late to start saving money for retirement, but it is helpful to begin early.

Working adults many times believe they will just continue working until the end of their life. This is not realistic. There may come a time when it may no longer be possible to continue working due to health reasons. If you are not planning for retirement to be a time to enjoy life, then you should be preparing for the possibility of no longer being able to work.

Social Security is not a retirement plan. It was designed to only supplement retirement income. Saving for retirement needs to be in the back of everyone’s mind during their working life.