The answer to this varies from situation to situation but here a couple of reasons.

• We do not know what the future will bring. So, let’s start preparing for it now.
• You might have some goals for the future that will not be attainable unless you start saving for them now such as travelling and new vehicles.
• We do not know what income tax will be in the future. For example, in the 1970s, the highest marginal tax bracket was taxed at 70%.
• We have no idea what will happen with social security. Maybe it will stay, maybe it won’t!
• We do not know what type of change artificial intelligence and other forms of technology will bring. Hopefully a good change but one can never know for sure.
• We do not know what the economic environment will be like. Hyperinflation could occur which can severely diminish the value of your retirement dollars.
• Stocks can lose their value if a recession happens.
• On the flip side, the economic future could take a turn for the best, which is why we must not worry too much about what is going to happen while trusting the process and taking it one day at a time.