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Chapter 5. Developing Your Retirement Pl... > The Retirement Planning Process - Pg. 48

Developing Your Retirement Plan 48 If you haven't pushed the pencil lately, then we have some surprising news for you. We know exactly how you came up with your current contribution level. You guessed! Problem is, what if you guessed wrong? What happens when you retire and you discover that, rather than saving 6 percent of your pay in the 401(k), you should have been saving 8 percent? For What It's Worth Imagine you're ready to retire at age 62, so you sit down to figure out if you have enough money to live comfortably. You're crunching away and ... whoops! You find out that you have enough money to live until age 67. What are your options? Continue working? Die young? Get a part-time job at Mickey D's or Wal-Mart? Move in with the kids? Our point is this: We all have one shot at saving for retirement. If we blow it, we don't get to go back and do it over again. Procrastination is the thief of time. Nobody in their right mind would wake up each morning and say, What can I do to make certain I never retire? But believe it or not, many people make this decision every day. They avoid taking that first step to financial independence. Here are some of the excuses we hear: