Private Financial Retirement Case Study

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People have a tendency to focus on matters of the contemporary world. Especially in a college/university setting, students allocate a great deal of their time towards their academics; they plan particularly for the present and the near future.
Making preparations for the late future, specifically for something as far away as retirement, is something many people neglect, despite its importance. It does beg the question: how far does one plan for the future? The issues regarding to the private financial preparations for retirement were discussed in Thomas West’s presentation: Considerations for Financing Long Term Care In Retirement.
To some, granted many, financing is a subject that can be considered rather boring, tedious, and stressful.
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They will intentionally postpone something as they deem it subsidiary. Usually, the mindset is that there will be enough time to complete the objective when the appropriate time arrives. Taking this into consideration, it is understandable as to why the Congressional Budget Office (CBO) found in their June 2013 study that so many people do not make private financial preparations for long-term care expenses. A great number of people may want to hold off those responsibilities until the time they reach that point since there is an emphasis on the present. Speaking from personal experience, many of my friends will delay working on projects/research papers as well as studying for exams since they believe they will have a sufficient amount of time to do so at a later …show more content…
In the past, I have observed several lectures and talks that discuss the importance of saving up for retirement. While people can allocate a small portion of their income towards their retirement savings, those funds can add up to a significant amount in the future. As a result, the sum of the accumulated savings can potentially improve one’s quality of life when they reach the period of retirement. We will have to restrict usage of some of the money we obtain, but it would all be worth it in the end as we could live in a more desirable lifestyle. The little steps that we take today can have a profound effect on the

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