Why is it important to save for retirement?

Whether you are 25, 40 or 60 years of age, it’s an important factor of life to plan for retirement. If you aren't planning, then you definitely should start! If you are one of those people who don’t understand just how important it is to plan for your retirement, read on and your outlook will certainly change…

The main reason why you should save for your retirement is because – it is your life! And if you want to have a great quality retirement lifestyle than you need to make sure that the money you save will have a profound impact on how your life is lived.  Do you have any dreams and goals? Typically, retirement is the best time to meet your goals and transform your dreams into reality, but you can only do this if you are financially prepared.

Another important reason why you should start saving early for retirement, is for your children. Even if you are in your twenties and single, remember that there may come a point in your life when you want to have a family. If you don’t properly plan and save for your retirement you could put a huge burden on your family. As a parent it is your job to protect and care for your children, not cause them to face their own financial difficulties because they must pay for your retirement expenses.

Saving a head for your retirement can also help to ensure that you are cared for. This is important for you in terms of your health. There comes a point in everyone’s life when his or her health starts to worsen with age, it’s just a fact of life and you can’t avoid it. While it’s true, yes, you may be able to live on your own and care for yourself when you first enter your retirement, there may come a point in time when you can no longer do so. If and when it comes to that time, ask yourself: “Am I financially prepared?” “Can I afford the cost of long-term care?” The cost of care can be expensive and it should be included in the cost of your retirement; therefore, you should probably start saving now!

You don’t want to keep on working once you have decided it is time to retire. Some people who are unprepared for retirement often keep on working or later return to the workforce, is this really something you want to do? Also always keep your age and health in mind; it is highly unlikely that you will be able to work until you die. That is why you should start saving right now; you can’t generate income for yourself forever...

There are plenty of reasons why it is important to start planning and saving for your retirement right now, but always remember that your life is in your own hands and only you can make your own happiness.

At Pinelands Grove Retirement Village your desire for gracious living in an attractive location is not just be an aspiration, but a reality. Nestled into the leafy suburb of Pinelands with the majestic Table Mountain as a backdrop, healthy living and wellness in a safe, secure environment has been uniquely created for you. A new standard of retired living comes to life in a vibrant community establishment. Here you can enjoy the finer elements of life.