You're 30 years old. Do you have any idea how much money you'll need to support yourself in retirement? Let's assume that you want to retire at the traditional age of 65, and that you intend to live fairly modestly, requiring only $40,000 in annual income in today's dollars. Let's also assume that you'll be here to celebrate your 80th birthday, and that you'll earn a 5% annual yield on your retirement savings. By the time you reach 65, you'll need to have $436,000 in retirement savings–and that's not accounting for inflation. Where is that money going to come from? Are you setting aside enough money today to live the last 15 years of your life without working? As underscored in this issue by our feature "Too Young to Think About Retirement? Think Again!†the time to answer that question is now, not 20 years from now. If you're serious about building wealth, there is no greater financial priority than investing toward your own retirement. And the earlier you start, the more likely it is that you will reach and even exceed your retirement savings goals. True wealth is about options. The more retirement planning and investing you do in your 20s, 30s, and 40s, the more options you'll have in your 60s, 70s, and 80s. Trust me: It's nearly impossible to enjoy your "golden years†if you don't have any gold. I'm speaking from experience, as I adapt to life as a retiree at the age of 76. Blessed with good health, a sharp mind, and a passion for black enterprise and all that it has come to stand for, I played an active role as an entrepreneur and business leader into my early 70s. Although my wife would say that I haven't exactly mastered life as a retiree yet (let's just say that I remain restless), thanks to diligent planning, proactively seeking sound financial advice, and disciplined saving and investing, I have plenty of options in retirement. These include seeing to our creature comforts, health, and security; supporting with our resources the causes we believe in; enjoying time with our children and grandchildren; and traveling to see the wonders of the world. (Continued on next page) As important as it was for me to plan and save for retirement, it is far more critical for you and others of your generation to do so. Unlike many in my generation, you cannot expect to enjoy 30 years of job security with one employer, with a guaranteed pension and gold watch waiting for you at your retirement party. Social Security, assuming it still exists when you reach retirement, will provide only a fraction of your income, at best. The price of procrastination–crushing debt, stress and isolation, the threat of homelessness, unhealthy dependence on others, being forced to work in your later years not by choice but out of necessity–is too high. But even higher is what we all lose, both individually and collectively, when we fail to contribute to our 401(k) accounts, put money into an IRA, or acquire stocks, bonds, insurance, and other investments. What's lost is a chance to build a foundation of resources for future generations of African Americans–wealth that can pay for educations, capitalize businesses, and finance dreams. It's called establishing a legacy, and it should be approached with purposeful enthusiasm, not reluctance and dread, especially by those of us who are passionate about Black Enterprise's Wealth for Life mission. Today–now–is the time to plan for your retirement. Now is the time to figure out, using any of a number of online calculators, how much money you'll need to support the retirement you want. Now–not tomorrow, not next year or next decade–is the time to begin saving and investing to achieve your goals. The bottom line: You–not the government, and not your employer–must take responsibility for providing for your retirement. You cannot afford to put this off. You must start today, wherever you are, with whatever you have.