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Procrastination.
"I can't start this week, month, year because (fill in the blank) but I will next week, month, year"
Then, seemingly all the sudden, it's your 60th birthday.
"I want to retire with enough money to live comfortably." is not a plan. It is a goal. The plan includes all of the steps necessary to achieve your goal and includes taking into consideration interest, inflation, taxes, and unexpected expenses which occur in everyone's life.
Once a plan has been developed, every economic decision one makes must be evaluated against the plan. How is buying the new car I really want going to affect me saving the money I need to save for my retirement this year? If is doesn't affect your plan, fine. If it does then the plan needs to be readjusted.
Keep in mind once a plan becomes unrealistic it's pertty much worthless.
So to answer the question I believe that most people don't have a good plan, and some that do don't follow it.
1) Their favorite new luxury vehicle
2) 1k designer handbags
3) Too many kids.
4) Repeat.
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and i will add 1 more , not deploying whatever you do save in an effective manner.
