Why And When Should You Start Saving For Your Retirement?

Why And When Should You Start Saving For Your Retirement?

Start Saving For Your Retirement?

Norman Vincent Peale, the American minister and author once said, “Live your life and forget your age.” Wouldn’t it be really wonderful to be able to live your life the way you want to live it, without having to bother about your age? More often than not, life seems to slacken in pace post-retirement. This is the time when an individual should be able to sit back and enjoy life. But often due to the lack of adequate retirement fund, the post-retirement phase brings with it a lot of worries and tensions. If you want to lead a stress-free life after retirement, you should start planning and saving for it properly. This article provides you information about why and when you should start saving for your retirement.

Reasons to save for your retirement

Financial independence is important in all phases of life, including your retirement. Some of the top reasons to start saving for your retirement are as follows:

To spend your post-retirement life as you wish

The way you spend your retirement life will depend on the amount of money you have invested or saved for your retirement. Whether it is about fulfilling your post-retirement dreams or your basic needs like food, clothing, and other usual expenses, you will need money for everything.

To meet your medical expenses

Medical expenses can be a big issue to deal with, especially in your old age. It is a known fact that the threat of medical conditions increases with growing age. If you are not well-prepared financially, you can land yourself in trouble as health-care is becoming expensive by the day.

To avoid continuing to work after retirement

There is a big difference between working for the pleasure of it and working under compulsion. If you do not want to spend your retirement years working under compulsion so that you will be able to pay your bills, you should start saving for your retirement suitably.

To avoid being dependent on anyone

If you do not want to depend on anyone for your post-retirement expenses, you have to plan accordingly. Be aware that your social security benefits may not be enough to fulfill all your retirement living expenses. Hence, saving for your retirement is the only way to navigate through your retirement years smoothly.

When should you start saving for your retirement?

The earlier you start saving for your retirement, the better. Ideally, you should start saving for your retirement in your youth itself. Make sure to plan for your retirement in such a way so as to get tax advantages. Certain powerful savings vehicles, such as RRSP enables you to save for your retirement while providing you tax benefits. You can start building your retirement fund with their help and remain prepared for a stress-free retirement life.

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A Goodbye To Toys R Us, From Every 90's Kid

We're some of the last Toys R Us kids.

When I think of Toys "R" Us, I’m immediately flooded with over a decade of memories. It’s as if I’m there and five years old again, wandering through the aisles of the store… conveniently getting lost in the Barbie section and hoping my parents will find me and let me bring home a Barbie. I tried this strategy just about every time I entered the store. Needless to say, my parents were a bit smarter than I was.

I can remember test driving every single bike in the store. Even though I was never shopping for a bike, it was just fun to ride through the aisles and dodge shoppers along the way. I found games like “Don’t Wake Daddy” and “Elefun” and quickly added to my Christmas list that was comprised of items exclusively from Toys "R" Us.

Even as I got older, Toys "R" Us served as a memory of happier and simpler times in my life. As someone with a sibling 10 years younger than I am, I was able to bring my younger sister to the store and watch as her eyes light up the same way mine did when I was her age. I saw how different her tastes were. While she looked at video games, I looked at board games. She wanted a tablet, while I yearned for The Game of Life. But still, every time we passed a Toys "R" Us, there was someone in the car to scream and beg to stop for just ten minutes—which always turned into a half hour.

All of the 90’s kids, as well as multiple other generations, are saying goodbye to a piece of their childhood. I thought the most of Toys "R" Us I would lose in my lifetime would be the massive store and Ferris-wheel in Manhattan, but I was wrong. Now, we are witnessing the end of an era and saying a goodbye to a huge company. Toys "R" Us may have been founded in the 1950’s, but it reached its peak during our lifetime, before losing out to stores like Walmart and Target. We were the Toys "R" Us kids.

On March 22, 2018, Charles Lazarus, the founder of Toys "R" Us, passed away. He was 94, and his death came just a week after Toys "R" Us announced it would liquidate all of its stores. He created the toy store after returning home from World War II, anticipating that all of the baby boomers would soon want toys. Thank you Mr. Lazarus for providing multiple generations of kids with a lifetime of fun memories, toys and stories to share for years to come.

I had always hoped for (and dreaded) the one day that I would bring my own children to Toys "R" Us, have them play on the bikes and scooters, try to sweet talk me into Barbie’s, and manipulate me into getting them another stuffed animal. But, now that day won’t come. So, it’s time to say goodbye to Toys "R" Us and all of the happy memories it brought us.

We will always be Toys "R" Us Kids.

Cover Image Credit: google images

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Communication Blocks In The Workplace Are Created By Lack Of Understanding And Connection

Insight on the conflicts created by a constant separation of employees due to multiple shifts being staffed the same.

Jobs in the retail or food industry typically have two or three different sets of shifts. In most cases, each employee will stick to the same shift they prefer to work whether that's mornings or nights. For example, in my workplace, I have two sets of employees who either only work mornings to afternoons or who work afternoons to close.

Businesses in these industries have the flexibility to work with what each employee's availability and preferences are in scheduling. That is excellent for the employees because they can work a job that works with their lifestyle, however, it creates a huge communication block between two separate groups of employees due to same daily deployment.

These two separate groups end up not having a complete understanding of each other or the duties they perform at the other time of day. It is impossible for them to build a workplace relationship in those quick passings as they trade off. This results in two sperate teams while a business should operate as one big team.

I have dealt with this communication block among openers and closers that is created through this separation at my current and past job. It results in a continuous feud between Team A and Team B. Both teams deal with different duties and different levels of customers during peak times where business jumps quick.

However, every day is different and Team B may come in to mess because of the level of business Team A may have had or it could have been from a lack of organization their team held throughout their shift. Since the two teams have almost no workplace relationships built because they never work together, they tend to lack the comfortability to communicate issues amongst each other.

If the feuds created from this block are anything similar to my current and previous job, then it will always result in passive-aggressive behaviors and petty doings from each team in hopes to create some kind of change or to simply try and get a rise out of one another. That simply rips a business's entire staff apart and will continue to create conflict due to the absence of any understanding how they store runs from open to close.

I, a business major, find myself analyzing conflicts at work a lot more since my recent shift management promotion. I want solutions for my team so we can all operate peacefully. The flexibility of each employee being able to work the hours they are able to or prefer to is great for us all, but if the tensions among the shifts continue, I believe it could be best to have each employee be required to work a few shifts on the other side to learn what each side deals with and to build a better connection with those they don't work with. This could create a mutual understanding and break the communication block.

That is my insight on how i'd like to go about fixing a workplace feud amongst shifts. How would you fix a feud amongst shifts at your workplace?

Cover Image Credit: Pexels

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