Too soon we get old, and too late we get smart is the old Yiddish proverb. This applies to most people as they do retirement planning. Rarely one starts thinking about (for example) 401 retirement plan in the 20s, though they should because this is the best time to do that.

Retirement ideas range from imagining yourself living in a life of luxury, playing golf, taking 9 month vacations, and enjoying life, down to living in a retirement community where your basic needs are taken care of. Failing to plan for your retirement can have very negative consequences.

There are retirement plan contribution limits but don't let that scare you away from the subject. It is something to keep in the back of your mind. Keep in mind that there are contribution and withdrawal limits and you will be fine. Planning your retirement as early as possible is what you should be doing and the sooner you learn about the limiting features of a plan the quicker you can correct it by choosing something else or by switching to another plan if that is possible.

You will no longer have to face work related problems such as uncomfortable relationships with co-workers, deadline pressures or a demanding boss. The associated stresses of commuting will be a thing of the past too and you can breathe a sigh of relief. However, a disturbing realization will be that "I have been replaced and the company is operating just fine without me”. Remember, you have closed a door but have the power to open others.

Statistics had shown that majority of the people will spend all their saving or gratuity three to four years after their retirement. And many still have to work after retirement age just to get by for a living and cannot enjoy life. There is a vast different between need to work for a living and want to work for enriching life! If you are stuck in this typical plan, don't worry, there is always an alternative to what you are planning right now. Jim Rohn; one of my favorite motivational speaker has this piece of advice on a seminar which I attended two months ago, he said, «Every one of us must learn to have a second skill in today competitive environment in order to survive and compete."

At age 70 plus, Jim still travels around the world to share his fundamental philosophy in life, not because he needed to, but he enjoyed seeing people becoming successful and reap the fruit of a more meaningful life. Is your plan going to enrich your life as well as the lives of others especially your loves one. Most people go through life, working hard for a living and forget to have a life!

You can get extra money to boost your life from the government, maybe you are one step away - learn how to apply for government grant.

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