No seriously – how prepared is she? Seems like that’s too far off in the future to think about, doesn’t it? You’ve got plenty of time, right? Let’s take a short walk down memory lane to your high school graduation. Now, a few steps forward to your college graduation. How long ago was that? 20 years?30 years?  40 years ago? 

I know, doesn’t seem that long ago, but it was :(.

The reality is most of us Gen Xers are closer to 70 than we want to admit and we need to start today preparing for our older self – trust me, she/he will thank you!

I was watching a video today of a 67-year-old, college educated woman that has $295 in her checking account, zero in savings and over $7,500 in credit card debt. She lives with a relative and has had to make the gut-wrenching decision to go back to you as she can no longer afford to feed herself. Her knees and back are in pain, but she has no other choice. Her social security is not enough to cover her living expenses and the $800 minimum monthly payment on her credit cards.

You may be thinking that would never happen to me, but you would be wrong. No one plans to broke. No one plans to be homeless. No one plans to be sick. No one plans to be unprepared for retirement, but life can get in the way.

As I sat there watching her detail her life, I thought whoa, how many of us are not prepared; we think we have all the time in the world! Yes, she made some financial mistakes in her past (who hasn’t), but for the most part, she said “I thought I had more time”. More time to save, more time to start investing, more time to get her financial life in order. 

Have you sat down and created a budget? Are you sticking to your budget? Do you have a SMART plan to get out of debt? Have you secured the proper insurance to protect your assets? Are you taking advantage of your company’s 401(k)? Are you maxing out your Roth IRA? Are you setting boundaries to ensure you don’t overspend? Have you asked for that raised?

The time is now, make a plan because no one plans to fail.

Thanks for reading and remember, our story is far from over, let’s keep Enjoying the Journey!