Millennial women tell me all the time they believe they have to sacrifice their lifestyle now in order to have enough money in retirement.

This view exists because saving for retirement is the primary topic of most personal finance books and media. The news reminds us daily that we can't rely on Social Security. And we're bombarded with generic benchmarks that tell us we are falling behind in building a sufficient nest egg.

Plus, we shame young people for spending on luxury items or experiences. How dare they want to actually enjoy life while they have the energy and health to do so!

You can and should have both - but it requires planning.

Too many Americans do not have enough saved for retirement. That's a fact.

This is because they simply didn't have a plan. They likely failed to understand how much money they would need for retirement. And some just started saving too late.

No one wants to find themselves in this predicament, but to swing the pendulum too far in the opposite direction is equally bad.

Retirement is likely, but it isn't guaranteed.

Your life happens right now, not 30 years from now.

I'm not advocating that you live like there's no tomorrow, but I recommend you should and can find balance. It is possible to live and spend joyfully now, while saving for the retirement you envision.

Yes, you need a plan, but you also need time and a vision.

The earlier you start, the less $ you need to save. This is because of the beauty of compounding. A small amount invested over a longer period is worth more in the long run than a large amount invested later in life.

You need to have a clear vision of the life you want now and in retirement. Stop believing that saving 10% of your income will meet your needs during retirement. It may or may not, but it also might prevent you from spending on the experiences you want to have right now. The only way to know how much you should save is to have a clear vision for your life now and at retirement and to work backwards from there to determine how much money each will require.

Your plan should cover the near and long term and align with your vision. Having a plan that is centered solely on retirement goals is out of balance. A comprehensive plan covers both the life you want to have now and the one you envision for the future.

People that operate without a balanced plan find themselves in one of two places: 1) miserable now or 2) miserable later.

But both outcomes are 100% avoidable with vision-driven financial planning.