by Gene Walden

Preparing for retirement is no easy task. It takes most people their entire working lives to save and invest enough money to finance a comfortable retirement. It also takes some resolve, a positive approach, and some advanced planning.

Here are several myths that tend to keep investors from putting together a suitable financial plan to help them prepare for retirement:

I don’t have the time to do a plan. Free time seems to shrink rather than expand as years go buy. But we still find the time to focus on events and projects that are important to us. You need to make retirement planning a priority and make a point of setting an appointment with your advisor to discuss your retirement plan.

Why would I need a financial plan when I have very little money? The truth is a lack of financial planning may be one of the reasons you haven’t been saving enough money. The whole point of working out a financial plan with your advisor is to help you find a way to save and invest more money.

I don’t know enough about investing and financial planning. Everyone enters the investment world as a beginner. To really learn to succeed as an investor, you need to dive in and just do it—then continue to learn as you go. The sooner you start, the sooner you’ll begin gaining experience, which should help you become more successful over the long run. Enlisting an experienced financial advisor in your retirement planning process will also make it much easier for you.

I can’t even pay my bills. How am I going to follow a financial plan? You might be the ideal candidate for retirement planning. By sitting down with your advisor and working out a sound financial plan, you may be able to figure out a better way to keep your bills under control and start saving for your future needs.

Why make a plan? I won’t follow it anyway. Money can be a motivating factor. When you start to see the results of your plan and see how much wealth you are accumulating, you will be more motivated to stick with your plan.

I have a plan – I just have it in my head. If it isn’t written down, it isn’t a plan. In addition, there are some important aspects of financial planning that you can’t keep in your head—such as a will and other estate planning documents. Your financial picture will become clearer in terms of where you stand, where you want to go, and how you’re going to get there once you have a plan in writing. Talk to your advisor about helping you put a plan together that will help you prepare for a prosperous retirement.