How to Convince Ourselves to Save for Retirement

Hi! Welcome to the Finance Gym Action Plan for a Better Life with Money Video Series. My name's Stacey Powell. I'm here on a mission to make you and your money stronger.

Today we're going to be talking about, you. Not you right now, but you when you're 75-year-old. We're going to do a little thing that makes you stop, sit and think about what it would be like if you were able to time travel. Forward yourself ahead, for me it would be 25 years from now, what would it be like if I could sit and have a conversation with my 75-year-old self. What would your 75-year-old self have to say to you about what you're doing with your retirement savings right now, for her or him? What would you say to your 75-year-old self when they ask, were you putting money aside when you were in your 20's? In your 30's? In your 40's?

I thought a lot about today's video because I wanted to make it just right. I think a lot about what would somebody have said to me when I was in my 20's that would have actually made me start saving for retirement. Because I didn't. And I wonder what somebody could've said to me when I was in my 30's that would have actually gotten me to start saving for my retirement. But I didn't. And when I hit 40 I still wasn't saving for retirement, and I know so many people in their 30's, 40's, 50's, I even talk to people in their 60's who still haven't started saving for retirement.

And what I tell everybody I can when they're a teenager or in their early 20's is, start now it's so much easier, it feels hard. And I wish I knew what it was that I could say to you that would inspire you to do it. And quite honestly, I don't know.  I've never come up with the answer.

But I do know something ... I turned 50 this year, and I feel so much closer to that conversation with my 75-year-old self. And I know that I want to be able to look her in the eyes and say, I cared about her future. I cared about her ability to keep a roof over her head and take trips when she wants and putter around in the garden. I might still be working when I'm 75; I love what I do.  But you know what ... I might just want to spend every day in the garden. That's what my Mom's doing right now at 82 years old, and she took pretty darn good care of her retirement.

So quite honestly I don't know what to say to you to get you to do this, but what I do know is that when you're talking to your 75-year-old self, he or she is really going to want you to have saved for retirement.

This indeed is something you can't do alone. So come join us over at Team Do Better, our Facebook group. Sign up for this video series over on YouTube or sign up for the mailing list at www.TheFinanceGym.com. And join us in taking care of you and your 75-year-old self.