Do you have a retirement plan?
Most people have NO retirement plan, because they believe they have plenty of TIME to sort this out! Or they have a company and/ or state pension. In these turbulent times having a PENSION does not equal a retirement plan. With several companies going BUST and taking their pension scheme with them BHS in the UK as one example. So suddenly people are left out in the cold with no plan.
Notably this is not financial advice nor telling you how to manage your pensions or finances, merely personal observations of the what is happening and providing you with ideas that you can explore for yourself. It is always advisable to seek professional advice if looking to invest in assets and leverage pension pots, etc.
Baby Boomer Generation
This huge generation that are at or reaching retirement age now were sold on the old idea ‘ Work hard, pay into your pension and retire'. The reality for the majority of this generation is far from this. Many worked hard, paid their taxes, paid into their pension plans only to find that they can just cover basic living or for many they simple can't afford to retire.
This is difficult if you find that you are not able to work for various reasons, then what? Should your senior years be this stressful?
New Ways Of Thinking
No matter where you are in life retirement needs to be on your mind, even if you have a 9-5 job that you love, if you know that you are only relying on a pension plan then there are ways to generate income on the side without eating into too much of your time, where you can start building up additional income that you can invest for retirement.
The earlier you get into the Habit of putting money away in assets the better, get the right financial education and learn how your money can make money for you. The time for simply relying on a pension pot is over. You need to start looking at other ideas as well as your pension.
Rise Of Entrepreneurship and How This Can Boost Your Pension
More and more people fueled by the stark reality that they need a retirement income are turning to more
alternative methods than the traditional J.O.B. Many baby boomers are now becoming entrepreneurs with seminars and training rooms packed with Baby boomers that are HUNGRY for something that can give them a level of time freedom as well as bringing in an income.
Just proving it is never too late to get started in business. When I started my first business I was not thinking about my retirement strategy. However, after the birth of my son I suddenly started to realise I was not heading anywhere positive when it came to retirement. Meaning I would be working until I drop!
Not what I wanted. So I looked for other income ideas and looked for strategies to bring in income by other means so I was not reliant on one source of income and to ensure that I could start investing for my future. I found the high ticket affiliate marketing system HTAM and that changed things for me.
Plan Now Don't Wait
The reality is that if you keep putting it off you are just burying your head in the sand and hiding from the reality that you need to plan for retirement as early as you can. You never know what is round the corner or how your health will be in the future. So start looking into your options.
One thing that became very clear to me at a 3 day online business training was the importance of looking at what I can do to improve my finances and how and where to get the right financial education. On attending an intensive asset management and wealth development mastermind and hearing the stories of other people who are creating the type of retirement I aspire to I realised that this is something everyone needs to look at and plan for as soon as they can.
Also to note it is never too late to improve your situation… simply watch this video and be inspired by a couple I met at a 3 day summit in London and how they started their business because they needed a new retirement plan.