Image by Renegade98 via Flickr"I'm planning on winning the lottery"!
The plan is not the problem. The "execution" of the plan is. I am constantly surprised (and then again maybe not) at the number of people who have told me exactly these words ( in a joking manner of course) when asked about their retirement. Sadly, for many, it is not a joke.
Statistics for the Baby Boom Generation, and the top of Gen X indicate that over 50% of people surveyed have saved "nothing" for retirement. Let me repeat that, "nothing"! Many more have "some savings and investments, but not enough to retire and will most likely keep working beyond 65 (unless of course, they win a lottery).
You know, it is never too late to invest. There is a well known saying that, "The best time to invest in the market is 25 years ago. The next best time is Right now"! The stock market has been the driver of wealth for 100 years. It will be the driver of wealth for the next 100 years. At this time of uncertainty and worry, it may be a good time to jump back into the market. Summer rallies are not a common occurrence, but they do happen.
Get good advice, invest over time (not in one chunk) spread your investments around many stocks/funds. (The same strategy that spawned the mutual fund industry). Don't listen to the naysayers, for they will surely come and question your sanity. When the naysayers (friends, family, co-workers) begin to tell you how you are wasting your money, ask them if the lottery is their Retirefund! Then watch them squirm.