Why are we Saving for Retirement, Again? – Episode 109

July 31, 2019

If you have a difficult time setting aside money for the future and saving towards retirement, then identifying why it is that you’re saving might be what you’re missing. Studies have even shown that we will save more money for retirement when we’re able to see an older version of ourselves- so maybe trying out FaceApp is a good thing after all! Even though we all might have different motivators, it’s healthy to remind ourselves of why it is so important to save and invest. And actually realizing and understanding that we’re going to be old one day is crucial when it comes to maintaining a high savings rate in our 401k, IRA, and other investment vehicles.

Privacy concerns aside, we have to admit that the FaceApp is a really powerful way to resonate and connect with an older version of yourself. If it gets us saving and investing more, I call that a win! Old Matt and Joel look pretty happy in retirement.

*personal note- I believe this could have such a large impact on me that I’ve actually aged a photo of my wife and I and it’s currently my phone wallpaper. What a good reminder in my busy day to day to make sure my reality is aligned with my values.

And at the beginning of the episode we mentioned how we all have memberships and subscriptions that might be difficult to keep up with. If you want to try and stay on top of those expenses, Truebill can make it easy to optimize your spending, manage subscriptions, and lower your bills.

During this episode we enjoyed a Christmas Bomb by Prairie- a big thanks to Jeff for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.

Best friends out!

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