The Climb To Retirement
I saw a rather comical retirement commercial the other day, yet the message was a pretty serious one.
Think about climbing a series of stairs to get to the top of a large building. For argument's sake, let's say that this building has 65 floors - one for each year leading up to your retirement.
Climbing up stairs with small steps is much easier yet any physicist will tell you that no matter how many steps there are it all equals the same amount of work. However, it may not feel that way if the steps you need to take to get to retirement are MASSIVE and in some cases take two people just to be able to scale one large step.
For many businesspeople, their journey won't be that extreme and will look something like the picture above. This is what the stairs will look like for most people with an employer-sponsored 401k: manageable, but definitely not easy.
This is why supplementing that with a brokerage account or self-managed IRA is so important. You may be able to make it up those stairs on your own, but imagine climbing 65 of them like that!
Try visualizing your retirement plan like stairs and see how your current situation looks. Are you preparing to make the climb easier?