Gen-X Lifestyle Change Preparing for Retirement
Episode description
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Buy that Sams Club fishing shirt instead of the brand name at twice the price. Why would you do that? This is a step towards planning for retirement. The time when just because you can buy the more expensive shirt maybe you don't. Put the difference in your retirement account.
Just because you have a great salary and can buy that BMW, why not buy the Buick or Chevrolet? Either vehicle will get you from point A to B. Both look nice but one is substantially less expensive. Another contribution is your retirement fund.
It may be a time in your life to consider what you need rather than what you want. This is not to say you never buy what you want but it's a transition period. That Sams Club shirt is nice, it does the job but it does not have the name brand label. Perhaps you no longer have to consider what your friends and neighbors will think if you buy a Ford rather than a Mercedes.
This is how the discipline of retirement planning starts. Listen to this podcast and visit our website to read more about retirement at RetireCoast.com Read our series on Generation X 20 Years to Retirement