To live for now, or plan for later?

Pepsi is marketing their product using the phrase "Live for NOW" and it appears that many these days are doing just that. Americans are using the resources they have available to them today that they could save for tomorrow in the hopes that they will either not need those resources, or will be able to resupply prior to retirement.

Delayed gratification is the key to a solid and satisfying retirement and apparently the younger generations have lost their appetite for delayed anything. In an age where search engines and mobile devices provide us immediate updates and information at our latest whim, those instances of immediate indulgence have begun to translate to the pocketbook.

Proper retirement planning requires that we set aside a proportion of our paycheck throughout our lives in order to live more comfortably in our older age. In order to do this, we must spend less in the present. With housing, food, and gas costs constantly increasing, this battle between saving and spending often favors the depletion of our savings in order to better experience today more comfortably.

When a generation is living paycheck to paycheck, it can be difficult to save. Difficult is not impossible though and while it requires some sacrifice today, the reward is supposed to outweigh that sacrifice tomorrow. Can we put aside some immediate desires and wants for prudence and forward thinking, or is today's culture living too deeply in the 'now'?

Good retirement plans require a myriad of support and quality estate and retirement planning should be part of that portfolio in order to sustain your desires into the future. An experienced estate planning attorney can greatly assist you in properly planning for your future without neglecting your present.

Source: The Wall Street Journal, "The key to retirement planning," Robert Seawright, Dec. 3, 2012

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Mr. Teiger, Thank you very much for your time and results. I will definitely recommend you & your firm to anyone who wants to be treated professionally courteously and needs results.Hope all is well.Again...thank you. Regards, Paul L.

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