You have worked hard all your life and now its time to enjoy it, to experience the special things, your dreams, to complete your bucket list. Unfortunately the issue of having an enjoyable lifestyle and the retirement money needed throughout life past the age of 50 is a major concern for millions of people.
Pensions, savings, and especially social security remain on unsteady grounds and most certain cannot be completely and 100 percent reliable to sufficiently meet demands of individuals expenses.
Take into factor the following areas that will certainly affect you in retirement:
- Changes in income
- Streams of income will fluctuate
- Streams of income will cease
- Cost of living increases
- Life expectancy has increased
- Health care increases
- Personal security
Issues each individual needs to contemplate:
- Your retirement money needed to live comfortably should take a life time to plan and control.
- Time could be on your side if you start early ( millennials, are you paying attention?)
- Once you have retired you will have more time on your hands to find streams of income
- Start today to get organized and get all your ducks in a row.
- Use worksheets, tools, read and expand your knowledge
Dig deep to find hidden assets that might have been overlooked such as:
- stock investments,
- old bonds,
- past employers with untouched small pensions, 401’s,
- forgotten savings accounts, insurance policies,
- uncollected tax refunds
- Keep your eyes and ears open, perhaps you could be as fortunate as Thomas from Ohio who found a life insurance policy while going through the family home after his father passed away. It turned out to be an extra $10,000 he put towards investments.
- Learn to make your money last
- Start with a well laid out strategy plan
- If you are like most people who haven’t even started or are afraid to start, don’t fret, there are many ways to supplement your retirement.
- Get Help, don’t be afraid to ask,
- Remember reading is knowledge ( it also keeps your brain young) there is a variety or excellent sources on controlling your retirement money. Start with “The Smartest Retirement Book You’ll Ever Read” by Daniel R. Solin.
- Don’t fall prey to the hungry coyotes.
Final pointers to keep in mind:
If you have no idea of where to start, you are not alone! Take into consideration the following:
Follow the people who are in control of their money, who have experience and knowledge.
Watch listen and learn from the business world
Find a good advisor that you can trust
Keep at it, be informed, keep learning
Don’t allow distractions or lack of knowledge to hold you back do something good for yourself!
Enjoy the ride! …..Learn to discover the facts about retirement money needed for a happy retirement!