Are We There Yet? That Is To Say, Can You Retire? by Bill Roberts

Are We There Yet? That Is To Say, Can You Retire? By Bill Roberts, The Baby Boomer Retirement Planner
Every day more of us reach what should be "retirement age."
But only  about 5% of us can retire in the manner to which we have become accustomed. This is according to Fidelity, the world's largest custodian of retirement funds.

If you are not one of the five percent, what are you going to do about it?
For most Baby Boomers the answer is "work until you die."
Sort of a bleak prognosis.

But it doesn't have to be that way. With a good plan and a few more productive years, you can retire in style.

When I retire I want to be able to pick up and go whenever I feel like it. I don't want to be stuck at home, no matter how nice "home" is. I  have developed a strategy to accomplish this. I call it The Five Resort Plan. Basically it boils down to having five places I can stay a couple of weeks at a time whenever I feel like it. There are several ways to do this:

• You can own vacation rentals where you like to go
• You can own time-shares in those same locations
• You can "swap" a couple weeks at your place for a couple weeks somewhere else
• Or you can have so damned much money the cost won't matter

However you achieve the freedom to come and go as you please, doesn't matter. But being able to do so does matter.

When you sit down to plan for your retirement, incorporate your own Five Resort Plan into the planning.

Obviously, all this is going to cost a pretty penny. You need to know how much and where it is going to come from.

Figuring how much retirement is going to cost is the place to begin your retirement planning. Retirement is not cheap, It will cost you more to retire than to continue working. Think about it this way: How much more do you spend on Saturday than you do on a typical work day? When you retire, every day is Saturday.

After you know how much you will need on an on-going basis, you can start to figure out how to get it. First, you establish your destination and then you plot your course. A map is useless if you don't know where you are going.

Most of us that are still working need at least $100,000.00 per year just to get by. When we retire we can expect to "need" at least 20% more because every day is Saturday and we plan on traveling a lot. If we had ONE MILLION DOLLARS in a high-yield investment that paid out monthly, we might be able to get by. Anything less and we can't make it.

One million dollars is not a lot of money. But it could fund your retirement if you are not too extravagant. Anything less just won't cut it.

I have several strategies for achieving this break-a-way retirement fund. I am a one-stop-shop when it comes to Baby Boomer Retirement Planning:

• Estate planning tools such as FAMILY TRUSTS, LIVING WILLS,  and DURABLE POWERS-OF-ATTORNEY (either self-help or Attorney drafted)
• Self-directed Roth IRA or Roth 401(k)
• Land Banking
• Entities, such as "C" Corps and LLCs
• Multiple Streams of Income
• Syndications and Crowd Funding
• Mortgage Planning and other Financing options

If you want to retire, you need to get started. Call me.