Retirement Guru: The Procrastination Trap

What Keeps People from Planning for Retirement?

CW Fong
2 min readJun 5


Ask anyone, and they will tell you that retirement planning is a crucial aspect of ensuring financial security and peace of mind in their golden years. Yet, many individuals find themselves trapped in a cycle of procrastination, putting off this essential task until it’s too late.

The following are the top five reasons people don’t plan for their retirement:

Tomorrow’s Problem. One major obstacle is the view that it is a problem for tomorrow. People often prioritize immediate desires over future financial security, failing to grasp the long-term consequences of their inaction.

Overconfidence in Other Sources of Income. Some individuals rely on external sources, such as their CPF and government handouts, assuming these will be sufficient to support them in retirement. However, these sources may not be as reliable or substantial as anticipated, leaving them in a vulnerable position.

Fear of Facing Financial Reality. Retirement planning requires individuals to confront their current financial situation, including debt, savings, and investments. This can be intimidating, leading to avoidance and denial as people choose to bury their heads in the sand rather than face potential financial challenges.

Short-Term Mindset. Living in a fast-paced, instant-gratification society, many individuals prioritize immediate wants over long-term needs. The idea of sacrificing present pleasures for a future benefit can be unappealing, leading to the postponement of retirement planning.

I have plenty of time. Retirement feels distant for many individuals, leading to a perception that there is ample time to plan. However, time passes quickly, and delaying retirement planning only compounds the challenges one may face in building a sufficient nest egg.

While it may be tempting to postpone retirement planning, the consequences of inaction can be severe. By understanding the reasons behind our procrastination tendencies, we can actively work to overcome them. By breaking free from the cycle of procrastination, we can pave the way for a secure and fulfilling retirement.

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CW Fong

I blog therefore I am. Passionate about #Singapore, #Leadership, #PublicRelations, #SocialMedia, #Marketing, and #PersonalDevelopment. Above all, I do no evil