Some thoughts while we wait for WCS to hit $115 again (post #2)

In the introductory post to this series the first question we posed discussed the viability of your financial future if you can’t count on generous savings matching/pension plans through your employer; this post will address that initial question (in very short form I might add).

There are very few things we can control in life and employer sponsored retirement savings plans are likely to fall into the category of things we can’t. I could create an almost infinite list of what we can’t control but instead let’s focus on three things we can control:

1. How much you save before retirement

2. When you retire

3. How much you spend in retirement

Knowing this, how can you ensure your financial future can withstand cutbacks of employer sponsored retirement savings plan? The answer is that you need to have a financial plan in place that can accommodate significant changes in all three of aforementioned variables because if yours can’t I would argue that plan is likely not worth having.