Retirement Planning Destined to Fail – Are You Making this Common Mistake?
Is your retirement planning in alignment with the ninety-seven percent of Americans that are destined to fail? Are you, like sixty-seven percent of your fellow countryman banking your retirement on the worst performing investment in America? How long have you been buying into broken financial ideas and concepts?
Do those questions have you a little nervous, or even scared? Are you at least a little curious to know if you’re a member of the ninety-seven percent of people whose financial planning will fail them, or are you one of the wise three percent?
No doubt you’re wiser than most. I mean you’re on the Internet looking for answers to your retirement planning. I commend you for that. Most people hardly make an effort, or exert any effort beyond calling their “financial planners” once a year to see how their retirement plan is working. Notice I put financial planners in quotes. That’s another story altogether for another time.
Certainly, there’s more than one approach to successful retirement. If you looked hard enough, you might find a ...
read more...Retirement Planning – Take This Job and Shove It!
Soon, if not already, will likely come a time when you’ve had it with your career. Retirement planning will become more and more of a focus as you tire of the workplace politics. Performing ambiguous day-to-day activities just for a pay check can take its toll. At some point you will begin to wonder why countless workers blindly accept the imprisonment of inflexible work hours, standing by waiting for the end.
It’s inevitable after focusing on the negatives of the typical workplace long enough, you’ll be more open to alternatives. Retirement planning with the intent of doing it earlier rather than later will begin to appear as more of a possibility. Fantasies of how to become a millionaire and what retirement will look like for you whether it’s playing golf 6 days a week, world travel, more time with your grandchildren or countless afternoons simply hanging out at your backyard pool will begin to become daily occurrences. Perhaps this is already something you’re experiencing? If so, perhaps it’s time to tell your boss to, ...
read more...A Real Retirement Plan and Not Another Tall Fable
What’s your retirement plan? Does it include bright sunshine and a beach? Is yours to spend quality time with your grandchildren? Does it involve endless rounds of golf and early mornings filled with fishing? Maybe your retirement plan involves traveling the globe. All of these plans for retirement sound great. However, rather than the destination, what about the journey?
In fact, understanding how you can reach those retirement years is much more important than knowing what you want to do when you finally get the chance to enjoy them. With all the work, work and more work you put into your daily existence, it would be tragic for you not to achieve the perfect retirement dream. That would be an absolute shame, wouldn’t it?
You see, we spend most of our lives working and working, saving and saving, accumulating and accumulating with the hopes that one day our journey will end at a big, shiny pot of gold labeled security. Of course, it is unrealistic to think a pot of gold awaits us. But then again, the traditional road ...
read more...Your Early Retirement – Daydream or Nightmare?
Early retirement: two words that can send anyone into a daydream state. But what if you were to find out that the way you are planning for retirement was just that – a daydream? If you ask anyone who rises for work day in and day out what their retirement plan is and how they are planning for early retirement, I’m willing to bet the answer they give you will be an incorrect one.
How do I know that? There’s a simple and unfortunate answer for those questions. Most of us are taught that to attain retirement status we must seek security through accumulation. In other words, we must pay off our debts (our home being the biggest) and accumulate stocks, IRAs, 401ks, annuities, and other savings devices. Then, when we do retire, these devices will fund our day to day expenses.
I can’t fault people for thinking this way. For generations, we’ve watched our parents live as perfect examples of this failed system. Marketing messages, from businesses that make money off of selling these “retirement” devices, ...
read more...How to Retire Early Successfully
Want to know how to retire early? Who doesn’t? I’ll be glad to tell you but you might not like everything I have to say. If you are ready to leave behind a failed philosophy and change your mindset, I will gladly hand you the keys to your own early retirement. Ready? Let’s get started learning how to retire early.
A good way to understand how to do things right is to understand how you have been doing them wrong. So let’s start right there. The retirement philosophy you have been following is all wrong. Some define insanity as continuing to do the same thing over and over while achieving the same wrong results. So I will take it one step further and call the retirement philosophy the majority of people follow not just wrong, but insane.
You can not enjoy an early retirement by working, accumulating and hoarding money. IRAs, 401ks, annuities: They pay you nothing. Having a home that is paid off is great if you leverage that equity. However, equity without debt pays ...
read more...How Much Money Do I Need to Retire?
Contrary to popular belief, there’s no such thing as an official retirement age. One certainly doesn’t need to work for 50 years to retire, either. With some of today’s thought leaders like Robert Kiyosaki (Rich Dad Poor Dad), MJ DeMarco (Millionaire Fastlane) and Kris Krohn (Strait Path to Real Estate Wealth) receiving more and more platforms from which to speak, the idea of an early retirement is beginning to catch the ear of mainstream America as a realistic one. More and more people are now realistically contemplating, “How much money DO I need to retire?”
To answer this question, we must first determine the monthly expenses one expects to have once they do retire. For the sake of this example, let’s use $5,000 for our amount of monthly expenses in retirement. Now that we have that, we can use either the traditional ideology or the “new” ideology to answer the question “How much money do I need to retire?” Let’s do both and compare which will get us ...
read more...3 Simple Steps to an Early Retirement
The thought of “retirement” can easily create anxiety within us, not to mention the thought’s of early retirement. Is that even possible, by the way? And for those that feel they did start preparing for retirement on time and have years of savings, it’s normal for them to doubt the decisions they have made. “Have I made the right decisions?” is a common thought.
Now, what if you haven’t begun to save at all yet? The fear that that thought can create will stop most people dead in their tracks resulting in never getting started.
Among other questions and thoughts that can thwart our best intentions are “Am I invested in the best retirement vehicle?” “Will there be enough when I’m ready to retire?” “Have I properly diversified?” “Did I start saving early enough?” These questions can overwhelm the optimistic of us — and, therefore, retirement planning and discussions are commonly avoided. I mean who doesn’t lead a frantically busy life today anyway? Tending to retirement planning can, and frequently does, get pushed down the “to-do” list.
Further, when one has ...
What Age Can I Retire?
With conversations of a “4-Hour Work Week,” “mini-retirements,” “life-style design” and “work smart, not hard” proliferating society, “What age can I retire?” is a question not just asked by 40 or 50 somethings anymore. People in their 20′s and 30′s are pondering the question more and more as the “get rich slow” program most of us have been raised to believe was our best shot at financial freedom is becoming less and less effective, and less and less appealing.
The answer to “What age can I retire?” depends. It depends on what type of lifestyle you want to lead in retirement. If it’s a minimalist lifestyle that you want, it can be relatively easy and a short journey to retirement. Maybe a couple of years! With just a few more years added to that, you could lead a very comfortable lifestyle in retirement like my friend Kris Krohn. You can see how he did it here. If it’s a lavish lifestyle you’re seeking, it’s gonna take a little longer. Obviously. However, what you will want ...
read more...How Much Money Do You Need to Retire?
How much money do you need to retire? I don’t know… you tell me. That’s not a flippant answer, by the way. No one knows your situation better than you do, and only you can really answer that question. But wait! I’m not going to just leave it at that without helping you out 
There are two ways to answer “How much money do you need to retire?” The first way is slow, and how most people do it. The second way is fast, yet very few people know how.
So, the first way is that you can add up how much of an annual income you want to live on in your retirement years and then multiply it by the difference between the age you expect to retire and your life expectancy age. For example, if you wanted to retire at age 60 on $100,000 per year, and you expect to live ...
read more...Happy Retirement 101
Retirement is one of the most exciting and scary times in a person’s life. If you’re retiring with a substantial nest egg that can last all of your retirement years, then you can breathe a sigh of relief and enjoy a happy retirement. However, if you have or feel you’re going to come up a bit short, you’ll probably take comfort in knowing that there is something you can do.
The answer: Buy n’ Hold real estate investing leads to a happy retirement.
Why is real estate Happy Retirement 101?
First, success leaves clues. Real estate has produced more millionaires and billionaires than any other industry or investment vehcile.
Second, real estate is considered an I.D.E.A.L. investment for the following five reasons.
- Income – Real estate can produce monthly income.
- Deductions – A couple of investment properties can virtually eliminate the tax liability of most Americans.
- Equity – Monthly payments from your tenant pay down your real estate debt of which creates equity.
- Appreciation – Equity is also created through market appreciation. Select any 20 year period in the last 100 and you’ll see real estate appreciates at approximately 6.5% ...read more...
