Halloween has come and gone but many of our fears that are magnified during Halloween are here to stay. Whether that be scary movies, spiders, ghosts, zombies and the list of our fears goes on and on. Every year we make sure that we play off of our many fears as we celebrate Halloween. Heck, we even go to haunted houses to subject ourselves to our fears. Ultimately we spend a lot of time at least once a year during Halloween, focusing on our fears. While this is fun there is one fear that we don't focus nearly enough on and this particular fear is one that we don't focus on nearly enough so that this fear can become a strength.
What fear am I talking about? The fear that when we reach retirement we'll have enough money to last us through our whole retirement. This fear is a very real fear for thousands, if not millions of people. In fact, according to Country Financial Security Index this fear is the biggest financial fear that we have. More than one in four have this fear.
What are some of our other financial fears according to this report? 18% of those surveyed fear not being able to afford healthcare. This fear increases with age as 42% those who were 65 or older fear healthcare costs.
Some of the lesser worried about financial fears are:
- Credit card debt
- Financial data security
- Keeping a roof over head
- Losing a job
These are some serious fears! Sadly many of these fears we don't have control over. It is time to start taking control over our fears just as we take control of our fears of zombies, ghosts as we get older. Our financial fears need to be taken control of. The best way to start taking control of our fears is to start planning today for your finances. By starting to plan today you can be less fearful of tomorrow and in turn release the fears that you have of your finances.
You may never get over the fear of being able to fully fund your retirement but you can be confident that you have done everything you can to provide for the best retirement possible.
If you need help planning for your retirement check out our retirement guide and remember you can start to loosen the bands that these financial fears have on you by planning for them and confronting them.
Author: Nick Barker