March 19, 2016 | Posted in: Leading Hartfully, Living Hartfully
Are you living a fulfilling life and doing what feeds your soul right now? At what age do you want to retire and what does retirement look like for you? The average American retires in their mid-sixties with only $10,000 – 13,000 in savings, which is far, far below what is needed for a comfortable life in America.
Plan for fulfillment now and for the future – you have a choice between short-term gratification and long-term satisfaction. Fulfillment is not necessarily in monetary terms – there is a balancing act of emotional, financial, spiritual, and intellectual fulfillment. Knowing you have a secure financial future will give you peace of mind as well as increased energy for today. Living on excess today means there may not be enough left in the future. Our futures are uncertain, as much as we’d like to think otherwise, so hoarding everything today and living meagerly in hopes of living well in the future may not turn out in your favor.
It’s always a personal choice of balance between today’s wants and tomorrow’s needs and ensuring that our resources can provide for us in both accounts. What are you doing now to take advantage of compounding interest rates and to make your money work for you in the future? What percentage of your income are you regularly saving?
Do you have at least 6 months to a year’s worth of income saved for emergencies or other unforeseen situations? Do you know where you want to retire and what the cost of living is in that locality? Do you know how much assisted living, nursing homes, or home health care will cost? Have you researched long-term care insurance plans or life insurance? Have you filled out a retirement worksheet that can be easily downloaded from many of the investment or mutual fund websites? Do you know how much of your savings account will be eaten up by inflation and how much you will need to have put away to live in the style you are accustomed to today?
Take the time to focus on these issues to give yourself some peace of mind and alleviate the burden of anxiety or fear over your future well-being.
Gaia Hart
As the CEO (Chief Energizing Officer) at Hartful Living including GaiaHart.com and BizBuilderCards.com; I’m a Messenger and Mentor for women entrepreneurs, connecting them to their capacity to energize their work and their lives in the art of living Hartfully. At BizBuilderCards.com, you can make a living through giving with greeting cards and gifts to build your network net worth as an additive to your current business or an easy way to send gratitude and kindness to the world.