For those who haven’t charted a course for a secure financial future, there’s good news and bad news.
The bad news? Without at least some solid financial planning, retirement may come with more sacrifices than security. The good news? It’s never too late to start and you have a lot of company.
Some 40 percent of people polled described themselves as “Informal,” having a general sense of their goals and how to meet them, but no specific plan in place.
When it comes to financial planning most people say life gets in the way. Some 69 percent feel the pace of society makes it harder for them to stick with long-term goals. Twenty-six percent say they either often or always feel too busy to think about long-term goals. Ironically, many people who plan their meals, plan their travel, or plan their wardrobe, won’t spend as much time planning for their future.