Feel Like You Are Behind In Your Retirement Savings?

Falling behind in retirement planning

Do you feel like you are behind in saving for your retirement? The experts all say that you should start saving as soon as you have a job, but that didn’t happen? What do you do now? Are you worried that you don’t have enough time?

You are not alone!

Couple frustrated with finances before working with Inspire My Money

The good news is that you don’t have to earn a million dollars in order to actually retire. It is possible with the income that you currently have, even if you are no longer 25.

The key to discovering the “extra” money that you need to save for your retirement goal is budgeting. Trust Me, I Hate Budgeting!

budget basics InspireMyMoney.com

Stay with me here – I will share the magic – but first the necessary basics…

The first step in any budget is being organized with your finances. You need to know how much you have coming in each month, how much you are spending and where your dollars are being spent.

There are a lot of budgeting tools out there — from simple spreadsheets to apps connected to your bank accounts that track your spending — and any of these will be effective if you use it (think of it like a nutrition plan — it only works if you actually follow it!).

The very best tool is one that can demonstrate how your choices today will affect your future net worth. 

The program that we use allows you to input what you currently have, and where you spend it, then shows you what you need to do to find that extra money. You can see how spending $60k on a new car vs $25k on a used vehicle will impact when you can retire. Saving as little as $100 per month can decrease the number of years you need to be working. How many? This program will let you know exactly — down to the month.

Very powerful!

InspireMyMoney.com budgeting program

The real advantage in using this tool is the ability to see how your financial decisions today will influence your future financial picture.

By planning where your money goes and being intentional with your spending, you have the ability to change your future. This is budgeting in a nutshell.

Reality of budgeting with InspireMyMoney.com

The next step is to examine your spending and identify areas where you are spending too much. Oftentimes you are not even aware of how much you pay each month for your favorite hobby or activity like dining out, playing golf, going out shopping.

Once you have identified those areas, you can start to be intentional with your spending (savings). You will switch from spending freely, to making planned purchases. The “extra” money that you are not spending each month is then applied to building your retirement account. Utilizing specific options that afford tax advantages can help your money grow even faster which is essential if you feel that you are behind.

Much like people give up on a diet and think, “this doesn’t work for me,”  many people think that budgeting doesn’t work for them. They use excuses like, “I’m not good with money,” “I’ve never been good with numbers,” or “I don’t have the time to do this every month.” These are all excuses that we tell ourselves to avoid making a change.

However, if you never change your current financial situation or your spending habits, then how are you going to change your future (kind of like that nutrition plan)? How are you ever going to have enough money to be comfortable walking away from a paycheck?

motivation for budgeting with InspireMyMoney.com

You have the ability to make a very real and positive change with your money. You have the ability to make your retirement a reality.

The beauty of the program that we offer is that you can immediately see how your current efforts will affect your future results. While budgeting apps or spreadsheets allow you to see your current progress, they fail to show you how those changes will affect your future goals.

Inspire My Money gives you the motivation to make those changes, and to make them permanent.

Time for a change in your financial situation

You can actually PLAN when you will have your credit card debt paid off, when you will meet your savings goals, and even when you can retire. 

What’s even better than planning for that retirement date? You get to actively be involved today in moving that date closer and see the results instantly!

Do you want immediate, massive results? 

Then you need more than the basics outlined above. The steps above are essential to beginning your financial change, but there are many more strategies to employ that will supercharge your results.

Additionally, the best results will occur when you have accountability —  someone who will help keep you on track (just like that nutritionist who checks in on your progress). We have found that working with a financial coach versus doing it on your own, typically cuts 12 years or more off your retirement goal.

budgeting with a financial coach at InspireMyMoney.com

This is the added benefit of working with Inspire My Money. Not only do you reap the benefits of all of our knowledge about budgeting and finances, but we also help you change your money habits so you can reach your retirement goals even faster.

To change your future dramatically for the better, click the button below and schedule a call to learn how this program can work for your situation. You will see the results immediately.

Click HERE to find more strategies to improve your budgeting success even more.