Many Signs You May Be Destroying Your Financial Future, In a Hurry

Many Signs You May Be Destroying Your Financial Future, In a Hurry


The finances word is a broad term with a general meaning in the management of money. Or its outflow for different purposes. It pertains to personal or business finances. Here the “finances word” will be used for the tracking and management of money. It will signify personal use now and in the future.

Lately in the news, the focus has been on the growing retirement class. Attention is focused on the growing number of retirees without enough money to retire.

Visiting the grocery store, and big box stores, as cashiers or greeters there are many elderly people working. Some complain of sore joints and fatigue when ask how they are doing.

The hard-working elderly, it seems, are amongst those who did not engage in money management early enough to retire gracefully. The future it seems was always too far off. Don’t let that happen to you.

There are many issues to focus on to create the best financial future possible. Focus early on the finances word” and understand the finances 72 rule. Know how retirement is calculated. Understand retirement living, and how current income will differ from retirement income.


The finances 72 rule is an estimated calculation. It tells you how long it will take for your money to double. It is measured by the estimated rate of return. Say for instance you expect to get a return of 7%. This is a reasonable rate with many quality mutual funds.

To find out when your money will double at this rate take the number 72 and divide it by 7. This means it will take approximately 10 years for your money to double.

Sometimes the investment may earn 6%, but sometimes it will earn 13%, so there will be an average of 10%. This also means the money in an account will double every 10 years with optimal conditions. Calculations such as this will keep retirees on track for a good retirement. knowing how retirement is calculated, is essential.

Fixed income is either social security or pension income. It should be weighed against supplemental retirement savings created by the finances 72 rule.

Consider yourself a saving bank, if you want to retire gracefully. It shows how to retire at 65 or 72, some figure out the rule very young and retire at 52. Saving like a bank, when working, is the key. Put the money away and don’t think about it. The finances 72 rule money will accumulate well with investments that have been studied well.

With a Saving Bank Mentality Seniors Won’t Have to Work at Retirement



It depends on where someone works as to how retirement is calculated. Social security will be small if income is small while working. It is calculated from taxes on working income or taxes filed as a small business. If there are no taxes filed, there is no income to calculate. Some small business owners make the mistake of either not filing taxes or not reporting income at all. Not reporting income on cash earnings could prove to be fatal in the early years.

Some organizations pay pensions at retirement. Pensions are usually paid by governmental agencies such as city, county, and federal jobs. Also, public school teachers. If the employee works long enough and understands how to rise through the ranks, they could have a good pension.

Calculations are usually given to public employees to keep track of pension-earning possibilities. Pension employees can see how retirement is calculated with pension tracking and contributing. This happens with a supplemental account such as a thrift plan or 403b.

Understanding how retirement is calculated early can keep you on a cruise ship during retirement. What happens instead is a low-paid job to supplement a low retirement income.


An employee or small businessperson must understand the finances word, the finances 72 rule, and how retirement is calculated. This will become a saving bank as an employee.

As a saving bank, a future retiree will create an account in addition to social security. This also pertains to the pension they will receive. The saving bank will be in the form of a 401k, 403b, or for an individual IRA. For a small business, it can be an IRA, Sep-IRA, or simple IRA. Read the different forms here.

Calculate the estimated supplemental income that will be accumulated using the finances 72 rule. Understanding how retirement is calculated will prompt you to invest in any of the above supplemental retirement plans.

Employees Not Knowing How Retirement Is Calculated Can Result in a Fatal Retirement



The requirement for social security is you must work at least 10 years or 40 quarters. Also, make at least $1,640 per quarter.

A married person with low or no earnings can receive half of their spouses’ income. Or, at 66 or 67, whichever is a full retirement age, you can receive half of their “primary insurance amount”. This is what is calculated at full retirement. Getting half of the spouses’ social security is called the spousal benefit. Only one spouse can get this benefit. Understand how retirement is calculated with the “spousal benefit” by knowing all of the rules at the social security portal.

There are a few rules that apply. The retiree must be at least 62 and be married for at least one year. If there is a child the one-year rule does not apply. When divorced, you must have been married for 10 years to get part of your spouses’ social security. If you worked, the amount you will get will be either your benefit or half your spouse, whichever is greater.


It is sad when considering the number of spouses or ex-spouses leaving this money on the table. The reason because of lack of understanding about how retirement is calculated for social security. A visit to your local social security office can tell you if you are close to receiving these benefits. In this regard, social security is like a saving bank since money is saved up for you in their bank. It is taken either from your check or your spouses’ check or both.


There is a choice. With the right information used early, a retiree can retire comfortably. There are many options. Understand the finances word, consistently calculate the finances 72 rule., And know how retirement is calculated. Consider acting as a saving bank when it comes to retirement. Retirees could hit the jackpot when it’s time to call it quits on the job. Use these factors to keep up with the signs you may be destroying your financial future.

Many Signs You May Be Destroying Your Financial Future, In a Hurry

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22 Responses

  1. Amber Myers

    These are good points to keep in mind. My husband is retiring from the military soon and it might take him a bit to find a new job. So we made sure to have plenty in savings just in case.

  2. Stephanie

    I am one of those people who need a reminder every so often to stay on top of my financial future. This was the perfect article to encourage me to refocus.

  3. Whitney Stewart

    You can never have enough financial knowledge, this was an especially interesting read! I’ll be holding onto this for future use! Thanks so much for reading!

  4. Kathy

    This is all really good to know. I am always trying to save money whenever I can. I know as we all get older, we’re going to want to have lots saved.

  5. Monica

    This is so hard for my single mom friend. She’s still so young and immature but really needs to get a hold of her finances. She needs so much guidance.

  6. LisaLisa

    I want financial knowledge to be taught to all the youth at a young age. It’ll help so many of them not end up ruining their lives.

  7. Richelle Milar

    This is a really great and very informative post! Learning how to handle properly your finances is really important

  8. Katie C

    Even though we are very financially sound and in tune, this is often something I worry about. Not only for myself but my loved ones. It’s part of why we are so diligent about our finances!

  9. Carmen

    This is fantastic wisdom in this post. I think us all must accept the fact that we will one day be unable to physically work. Now is the time to save what little or a lot that we can to live comfortably later.

  10. Gervin Khan

    This is such a great article to read and very essential to everyone! Knowing this stuff will make us the best investment suitable for us!

  11. Melissa Cushing

    I honestly plan to work until I can no longer work. My mom retired and her health has gone downhill…. she swears its because she quite working. It is a way for older people to stay active and I am good with that! I do believe in being financially stable as well but in times like these some of those older people did plan properly but due to morons running the country they have lost LOTS of money from their 401K’s & retirements plans due to no full of their own. Very sad and that is why people need to educate themselves before voting…

    1. Markets go up and down all the time. It is a function of the wall street capital markets. The key is long-term investing. Many people invest for too short a time or change investments too much in their retirement accounts. Many people don’t even start until they’re 50 or 60. Those who will have great retirements are those who start very early, have a great pension, or have a great forced company retirement. Many people never invest in their 401k or supplemental retirement plan.

  12. Catalina

    I understand that I need to learn so many on finance. I would like to improve my future and finances have an important part in it!

  13. laura

    Very informative information that I will keep in mind, as I create my budget and understand the world of finances. Thanks for sharing this with us.

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