The Price of Procrastination - Saving for Retirement

The biggest problem with people saving for retirement is PROCRASTINATION.

You may give up thousands of future dollars for every year you delay starting a taxed advantaged retirement plan. Here’s why: Every year that you wait you are paying more in income taxes. And, every dollar lost to taxes is a dollar that cannot be used to help increase your future financial security.

More importantly, every year that you postpone establishing a plan represents a lost annual contribution—and every year of delay costs you a year’s worth of tax-deferred growth. The combination of lost contributions and lost tax-deferred earnings can be enormous.

Case in Point
Suppose the following facts are true:

Summary:  With just a 2 year delay you could lose tens or even hundreds of thousands of dollars in over all retirement money.


This is a hypothetical example for illustrative purposes only and does not represent the return of any specific product.

The information contained in this article is for general use and while we believe all in formation to be reliable and accurate, it is important to remember individual situations may be entirely different. Therefore, information should be relied upon only when coordinated with professional tax and financial advice. Neither the information presented nor any opinion expressed constitutes a representation by us or a solicitation of the purchase or sale of any insurance or securities products and services. 

The information provided is not written or intended as specific tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. We are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.