One afternoon, two good friends were sitting at happy hour, having a Scotch, and the discussion drifted to talking about investing and retirement planning. After digging in a little, it became clear that for being the same age, one of the friends had done quite a bit more planning than the other. One had accumulated a significant amount of assets, done some estate planning, and had a great idea of what he wanted in life. The other took a more relaxed approach and never really put a savings plan in place. He was of the mindset that you can always plan later. “Live for today” is his motto. So, his friend says, “We are both 56 years old. If you plan to retire at age 65, you only have 108 paychecks left for the rest of your life. Don’t you get that?” The man thought about it for a minute, as you could visibly see the words sinking in. But then he snapped out of it, coming back with; “Why should I bother saving all of that money? I’m not even married. What if I die?” His good friend sits back in his chair, pauses, and then kindly says to him, “What if you don't?"
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