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The Alemian File: Episode16- Procrastination

By David Alemian

Many people aren’t prepared for retirement because they got a late start to saving, which is caused in part by procrastination.  Saving for retirement is one of the easiest things to put off for another day because it’s way off in the future.  You figure you have all time in the world, and you have other priorities.  Before you know it another year has passed and you still haven’t set up a retirement plan other than what you have to work.  You already know your 401(k) won’t be enough, so you figure sometime soon you’ll sit down and talk to a financial advisor.  You blink twice, and five years has gone by, but you think what’s the big deal… there’s still plenty of time.

Well… it is a big deal and here’s why… This morning I sat down with my computer and crunched some numbers using illustration software.  I began with someone starting to save for retirement at age 45, and then retiring at age 65.  I then ran the same numbers starting one year later at age 46, and the annual retirement income dropped by a whopping 10% percent.  I then plugged in the numbers starting at age 47 and the income dropped by about another 10%.  By age 48 the income dropped by an astounding 30%.  Let that sink in for a moment…  That’s a 30% drop in income in only 3 years.  In other words, you could lose about 10 percent of your retirement income for each year you put off getting started.  If you break it down into six month increments, you’re losing 5 percent of your retirement income for every 6 months you wait.  That’s a huge amount of money, but it doesn’t stop there, because while procrastination creates a dramatic drop in income, inflation is still driving up the cost of living.  You can’t stop inflation, but you can stop procrastination.

Put saving for retirement at the top of your list of priorities, because the cost of procrastination is absolutely staggering.

If you have questions send an email to David@TheAlemianFile.com.

Visit my website www.CapitalCrestFinancialGroup.com.  Absolutely, make sure you come back here next week for another edition of the Alemian file.


About David Alemian

Successfully creating affordable retirement plans guaranteed to last a lifetime is a unique, specialty skill. It’s a challenging arena but respected writer David Alemian makes it look easy. Alemian is a leading retirement expert and nationally recognized authority whose expertise is shared via video columns, numerous journals, and talk-shows.

His national recognition results from both revolutionizing and revitalizing how organizations and individuals like you and me plan and save for retirement. Alemian is considered “The Go-To Guy” for creating and implementing absolutely irresistible, lifetime retirement pension programs.

Formerly the host of “It’s About Money” Radio Show, Alemian has also produced and is featured in over 200 financial education videos. Additional content can be found in many well-respected, publications including: MD Magazine, Physician’s Money Digest, Physicians Practice, Journal of Clinical Oncology, Consultant Live, Psychiatric Times, Cancer Network, OB/GYN.net, and The Healthcare Executives Network.


This article reflects the thoughts and opinions of the author and is being provided for educational and informational purposes only. It should not be considered financial or tax advice. Please consult your financial or tax advisor about your situation.