Fear as a motivating factor

Behavioral finance has grown as a field of study in the last few decades. There are tricks and tips on how we can change our behaviors to save and invest money. Some are pretty useful. 

One thing has always worked for me, however. And that thing is fear. I often imagine the most horrible scenarios that can happen if I don't save and invest and once I'm sufficiently scared, I go and save some more. I seem to have an extreme long view of my life, much more so than other people.

When I was in fifth grade, DARE used to come to my class and show us pictures of black lungs - "Kids, this is what happens if you smoke!" Or they would show us a picture of a wrecked car - "Kids, this is what happens if you drink and drive!" DARE was highly effective and their words have been stamped into my brain forever.

Fear works for me but I'm not sure it works for other people. Generally speaking, you should be nice in your approach when giving advice.

Having said that, I do wonder if people might take you more seriously if you say, "Here's what might happen if you don't save." (But of course, you say it super nicely).

There are several interesting articles that talk about what may happen on Forbes, Huffington Post, and Reddit. 

Some key highlights on what happens if you don't save for retirement:

​1) You will have to work until you die (hopefully, no bad health issues get in the way). 

2) You give up your house and move in with your kids or other family members (hopefully, they are okay with this). 

3) You will not be able to live a lifestyle that you may want to have (engaging in expensive hobbies, travel, fine dining, etc). 

Think about all this. And if you haven't given much thought to your financial situation, perhaps it's time to start.