Making Sense of Retirement Planning

Robert and Barbara Cupani, both 67, celebrated their 42nd anniversary by taking a 21-day cruise through Europe. But this wasn’t the only trip for the Long Island-based couple in 2007. They also spent two weeks in Alaska, 10 days in San Francisco and had several weekend trips throughout the Northeast.

The reason they can afford such a carefree lifestyle is that they started their retirement saving when they were in their 30s. (He was a male nurse. She worked for a cosmetics company.) The Cupanis consider themselves lucky, compared to some friends. “We know people who live with their kids or are just getting by on social security,” Bob says. “Sometimes we feel guilty when we talk about the trips, but this is something we planned for and we’re not going to stop until we see everything.”

Financial experts say that nearly one-third of all Americans who are working have nothing saved for retirement. That’s surprising, given that a whopping 95% of Americans have some type of financial-related retirement fear, such as running out of money, according to Ben Stein, honorary chairperson of the National Retirement Planning Coalition.

You may be one of those people who is concerned, or who hasn’t yet begun a retirement plan because the choices are overwhelming or you think you aren’t making enough yet to save. These worries are normal, but don’t let them keep you from your dreams for the future. Prudent retirement planning now can alleviate many of your fears—and, like the Cupanis, you can soon be on your way to making your retirement dreams come true.