Hey it’s a bird, no it’s a plane, oh wait it’s no one. Many of us go through life drifting from day to day, not really giving much thought to our financial health. Many say “I only have to be on this job for 30 more years before I retire; however, when asked how much they have saved or how they plan to fund their retirement, they give the classic “I don’t know” answer. It’s incredibly hard to expect something when there is no plan or work to support our expectation. Most of us have the super hero complex, we believe someone will, and should save us, from the financial mess that we have created ourselves. The belief is that someone will come to our rescue. This type of thinking is toxic and it hinders us from taking responsibility for our own financial futures.   The Ugly truth The truth is that no one will care about our financial future, and our financial health, as much as we do. That’s right; not our employer, not our mom, not our dad, and definitely not our Uncle Sam. This is why we see individuals in their 60s and 70s with debt, and also working beyond the age of 70. Do we want to be working at the age of 70 for basic necessities? The answer is a resounding no, so we have to take responsibility, and act now, before reaching that point. The super hero complex suggests that a 401K and social security will save us, when we reach the “so called” retirement age. Although these options provide us with a level of income, they are not a complete solution for our future retirement. The truth is these promoted plans alone; do not provide the financial security as advertised. In addition to these promoted plans; as discussed in episode MC005 (What is an Asset and Why Do I Need Them) we have to create assets that we control, to assure financial security in our late stages of life.   Have a plan When we learn to take responsibility for our own future, then we can start to develop a plan. We should start with a financial health checkup (check out episodes MCS006 – MCS008); this is where we take a look at our finances to see where we stand financially. We then need to develop a plan, it’s important to note that we all are unique and have different circumstances, skills, and talents so no two people’s plan will look exactly the same. The point here is to have the mindset to take responsibility, assess where we stand financially, develop a plan for our financial future, and then work the plan.   Reference: MCS005 – What is an Asset and Why Do I Need Them MCS006 – Budgeting Nothing Natural To It MCS007 – What Is Your Number? (Creating and Executing a Budget) MCS008 – What is it really worth? (Creating a Financial Balance Sheet)   The post The Super Hero Complex appeared first on The Mike and Cliff Show.