Bankrate offers a list of the 10 commandments of personal finance that I'll be sharing with all of you as well as providing my thoughts on their selections. The commandment for today:
IX. Thou shalt plan for retirement
Unless living in a cardboard box is your idea of a little bit of heaven, you absolutely have to plan for retirement.
It is important to not only save for your retirement -- hopefully starting at a young age -- but to help guide older parents who may not be as financially knowledgeable in planning for their retirement.
I'm all over saving for retirement for myself. As for guiding my parents into retirement -- that's another thing. I don't think they have much saved, though they do have their house paid off. My dad's plan is to "work until I die." Not a great option.
For related thoughts on this topic from Free Money Finance, see these posts:
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