Retirement Planning and importance of Retirement Plans

Savings and investments should be part of a monthly budget even when young or just starting a career.

You cannot save enough if you are waiting until your late 30's before thinking about savings and investments.  Then credit cards and loans will drag the savings with added responsibilities like marriage, children, care of parents, etc.

• I’m not that old:  It’s not about NOW but saving for your old days when you can no longer work full time. 
• I’ll wait for a lump sum is just an excuse to postpone planning or procrastinate.
• Assumed Family/External Support: It’s better to be prepared for eventualities and have contingency funds in hand.
• Financial Requirements Decrease: Medical costs increase with age. Inflation and other factors might also come into play.
• I will not live that long or I won’t retire: People tend to live longer, but they will suffer from medical ailments.