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Greater life expectancies require greater savings to live out your retirement years without worry.

Did you know that people age 85 or older are the fastest-growing segment of the U.S population? According to the National Institute on Aging, by the year 2050, the amount of Americans who will hit the centenarian mark near the one million mark. In 1950 the number of people to reach the age of 100 or more was just 3,000.

With people living longer and longer, the mindset of a 20-25 year retirement plan is becoming increasingly unrealistic. Instead, we recommend shifting your mindset to more of a 40-year retirement planning perspective. By doing so, those golden years can remain golden for a lot longer than you think.

When should I start saving for retirement? Hmmm… how about yesterday…

The earlier you can start planning and saving for your retirement the better. In a perfect world, financial planning and retirement planning should be top of mind from the time someone begins their working adult career. We realize that this is NOT the case with most. Let’s face it, how many twenty-somethings do you know who show concern about saving money, putting funds into a 401K, starting an IRA or caring much about what their social security income will be?

For professionals who are in the height of their money-making years, the stakes are raised even further. Many professionals will put the max contributions allowable into their 401Ks. The main question of concern is whether they clearly understand how their money is allocated or what the risk tolerance is.

It’s never too late to get a firmer grip on your retirement planning.

We have worked and helped clients from all walks of life, age sectors, and income levels. As such, we can tell you that it is never too late to develop a life-planning and retirement strategy to support your current and desired future outcome. Once you achieve a clear understanding of where you are, you’ll then be able to plan and implement a strategy to get where you want to be in your “retirement future.”

After all, life is all about change. And that can mean simply changing the way you think about retirement and financial life planning no matter what age you are.

Read Nicole Mayer’s HUFFPOST original commentary on the topic of retirement in the “3 Things That Could Save Your Retirement That You Will Never Ever Do,” article written by Ann Brenoff, HuffPost Senior Reporter.

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Second Opinion Partners