Most Americans are not prepared for the end of their working lives. Americans in their 50’s have an average of $117,000 in retirement savings. It should be closer to $400,000. Those in their 60’s have $172,000. It should be closer to $700,000. Nearly 48% of Americans age 55 and older don’t have any retirement nest egg or a traditional pension plan.
The government is not prepared either. Forbes magazine reported that “Many government pension schemes haven’t set aside the assets needed to pay the benefits they’ve promised to current and future retirees. They can delay the inevitable for a long time but not forever. And “forever” is just around the corner.”
Many are going to be shocked at how unprepared they were for the end of their working lives and will spend their later years in financial pain. If preparation for the end of our working lives is seriously lacking, preparation for the end of our lives is even more seriously lacking. This impacts the young as well as the old because our lives can end at any age. The majority are not prepared for their end and their eternal future.
- Most don’t think about it
- Most don’t think it will be soon
- Most don’t treat it as urgent
Yet, “forever may be just around the corner.” How many will be shocked at how unprepared they were for the end of their lives? How many will spend their eternal years in pain?
How can we fix this? Let’s visit the ant hill to learn titanic lessons from a tiny creature. It teaches us a general lesson about the wisdom of preparing for the future in every area of life, but we will focus on the wisdom of preparing for the eternal future. We’ll also look at the steps of preparation.
Read the rest here.