Many people have sadly neglected to make any provision for their retirement, whether because they have not got round to it or have not been financially able. However, our safety nets for old age are sadly being taken away from us as people live longer.
Even if we have savings or annuities, which we would once have relied on to get us through old age, the low interest rates means that we are not guaranteed an income sufficient for our needs and the old age pension is, in reality, not sufficient to live on for many people.
That is why it is never too soon to start planning for your old age and it is those people who are wise with their investments now that will be leading a comfortable old age rather than having to watch every penny they spend.
Even though old age may seem decades and decades away, make sure that you start saving as soon as you have a steady job and some spare income. Don't wish your life away but retirement will loom up sooner than you think.
It is important not only to live to a ripe old age but also enjoy your last years without having to worry about whether you can afford to heat the house or enjoy yourself after so many years of hard work.