Our parents or another significant adult (teacher, coach, etc.) told us to "finish what you start!" As a result, we all find a level of responsibility to finish things at different times of our lives. However, sometimes unfinished business has unintended consequences.
I remember while growing up that there were unintended consequences when you didn't finish a job or your chores. While there wasn't much harm in not raking ALL the leaves in the yard in the fall or not mowing ALL the lawn, we quickly learned that the important stuff had dire consequences.
Learning the Hard Way on the Farm
For example, you had to milk the cows every day at the dairy farm, including Saturday and Sunday! If you missed a day, the cows could stop producing milk, and then you'd have nothing to sell. So, you had to make sure those cows were milked at the same time every single day!
When it was time to harvest the hay, it had to be cut, dried and bailed. Then the bailed hay was placed in the barn's loft so that the cows have feed all winter. If the hay got wet because you didn't bail it on time, or if it were to rain before you could bail the cut grass, that hay would mold and spoil. You had to buy your hay, and that was expensive. You cut into your profit because somebody didn't finish the job.
When did you learn about finishing the job, and who taught you those valuable lessons? What were the dire consequences that you or your family suffered if a job wasn't finished?
The Cost of Putting Things Off
How about those healthcare or retirement plans you've been meaning to manage? What about that income plan you know you need but haven't gotten around to? We see folks on an almost weekly basis that put "it" (whatever "it" was) off until it was too late, and something did happen, but because the job was never finished, now there is a problem that wouldn't have been there had some preparation been completed.
Reengage in getting the job done for those necessary life plans. Call us! We can help get some of these items off your important to-do list!!
By David Edge
David Edge is a retirement lifestyle writer and contributor to the ARA monthly newsletter. His articles blend personal stories with practical insights on living well in retirement.
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Easy Eddie's Take
David's farm wisdom hits home because retirement planning works the same way. Most people are surprised when they learn this, but missing key deadlines can cost you thousands. For example, if you don't sign up for Medicare Part B when you're first eligible at 65, you'll pay a 10% penalty for every 12 months you delay, and that penalty lasts for life. The Medicare Annual Open Enrollment Period runs from October 15 to December 7 each year, and missing it means you're stuck with your current plan until the next year.
Think of it this way: just like those cows needed milking every single day, your retirement accounts need attention too. If you're over 73 in 2026, you must take Required Minimum Distributions from your traditional IRA and 401(k) accounts by December 31st each year. Skip it, and the IRS charges a 25% penalty on the amount you should have withdrawn. A lot of people ask me, "What happens if I forget to take my RMD?" The answer is simple: it gets expensive, fast.
Here's the good news: unlike farming, retirement planning doesn't require daily attention. A little preparation today can make a big difference tomorrow.