Many have dreams about their retirement, picturing it to be perfect: Traveling around the world, playing golf, watching the sunset lazying at the beach. Whatever it may be, so long as it does not involve working hard. However, most of those dreams do not materialize and you find yourself having to carrying on working without a choice? 1. Starting Too Late Planning for the this phase normally does not take priority until it is too late. After all, there is no hard and fast rule that one has to retire at 62 and MUST start planning at age 45. Although most "financial planners" advise to start early to allow for compounding returns, it may also be impractical as the idea of retirement would be too far fetched for those who started working and are in the midst of just starting a family. Short term needs will out weigh their commitment ......