The Retirement Mindgame

The Retirement Mindgame
Your outlook may influence your financial outcome.

Provided by Gregg Perrey and Jeff Olbina

 What kind of retirement do you think you’ll have? Qualitatively speaking, what if the success or failure of your retirement begins with your perception of retirement?

A whole field of study has emerged on the psychology of saving, spending, and investing: behavioral finance.  Since retirement saving is a behavior (and since other behaviors influence it), it is worth considering ways to adjust behavior and presumptions to encourage a better retirement. Continue reading

An IMCU Lifestyle Guide: Ready for Retirement?


Whether retirement has finally arrived or it’s approaching rapidly, you’ve worked hard
for a long time to get here. Bringing your career to an end (or even cutting back on the
amount of time you devote to work) leads to all sorts of changes and forces you to make
many important decisions that will determine the quality of the years ahead. Indiana
Members Credit Union created this guide to help you make the right choices for your
situation and needs.

While most people will spend plenty of time thinking about what they’d like to do in their retirement years, far fewer actually take the time or the steps to prepare. According to Money Magazine, one-third of Americans have no retirement savings, and another 23 percent have only been able to save less than $10,000. (Only 13 percent have managed to put away at least $300,000.) Continue reading

Why Do People Put Off Saving for Retirement?

Why Do People Put Off Saving for Retirement?

A lack of money is but one answer.

Provided by Gregg Perrey and Jeff Olbina

Common wisdom says that you should start saving for retirement as soon as you can. Why do some people wait decades to begin?

Nearly everyone can save something. Even small cash savings may be the start of something big if they are invested wisely.

Sometimes, the immediate wins out over the distant. To young adults, retirement can seem so far away. Instead of directing X dollars a month toward some far-off financial objective, why not use it for something here and now, like a payment on a student loan or a car? This is indeed practical, and it may be necessary. Even so, paying yourself first should be as much of a priority as paying today’s bills or paying your creditors.

 Some workers fail to enroll in retirement plans because they anticipate leaving. They start a job with an assumption that it may only be short term, so they avoid signing up, even though human resources encourages them. Time passes. Six months turn into six years. Still, they are unenrolled. (Speaking of short-term or transitory work, many people in the gig economy never get such encouragement; they have no access to a workplace retirement plan at all.) Continue reading

Three Tricks To Retire Rich

Tricks to retiring rich

The difference between working yourself to death and retiring to live a life of comfort is smaller than you think. We like to believe in the simple caricature that rich people retire rich and poor people don’t retire. The truth is, much of the difference between retiring and continuing to go to work every day comes down to a few simple choices. Let’s take a look at three tricks that separate the successful retirees from the workers who are too insecure to retire: Continue reading