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Thinking About Retirement? by Bill Roberts Retirement Coach

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Services for Real Estate Pros with Brooks and Dunphy Real Estate DRE 00527512

 

Thinking About Retirement?

Most Baby Boomers CANNOT retire. They just don't have enough

money set aside to provide a monthly income sufficient to pay all their

living costs.

And forget about Social Security. There is no way you can live on the

pittance they give you.

So you have reached out to a financial planner for help. And they said

"you don't have enough assets for us to be able to help you." They

want you to come to them with $500,000 or better yet, a million

dollars just to get started with them. If you had a million bucks you

probably wouldn't need their help.

So, what are you going to do?

Well, most Baby Boomers simply choose to continue working. Actually,

they choose to work until they die.

That is not really a pleasant prospect, is it?

But another option is available to you. You could increase your assets

to the point where you could actually live on the income produced by

your assets.

So, how do you do that? If you could do it yourself, you would probably

already have done it.

You need help.

That's why you reached out to that company you saw on Fox News. You

wanted help, but they turned you away.

Well, you could buy a book (there are a lot of them available) and

follow their suggestions. But can you really?

If it is that simple you would have already done it.

Actually it is that simple BUT you need to believe it and ACT upon it.

And therein lies the rub. You don't know what to believe and where to

start.

You need a COACH

You need a coach, not a financial planner that wants to sell you

something that pays him a huge commission, like an annuity does.

You got to watch out for these guys.

They don't have your best interests at heart. Why do you think that they

have pushed back against the government's fiduciary rules?

A fiduciary puts YOU FIRST. These financial planners are really just

salesmen that put themselves first.

See how lucky you are that they don't want to help you? You don't have

enough money to keep them in the lifestyle to which they have become

accustomed. Lucky you.

What do you do to solve this problem?

Hire a Coach

Hire a coach that is fiduciary. Get some real help to build your net

worth. And eventually you should be able to retire.

A good coach will put you on a program to build wealth over time.

Don't expect immediate results.  Allow yourself ten to twelve years to

start to see real growth in your wealth. And remember that twelve

years is better than NEVER.

How do you find a coach that is a fiduciary?  In most states a Real

Estate Broker is a fiduciary, and most states also license fiduciaries.

But stock brokers and insurance agents are NOT fiduciaries. Beware.

In the past, Real estate Brokers have been compared to used car

salesmen, but the truth is Real Estate Brokers have your back while

most financial planners and stock brokers don't. They ARE like used

car salesmen. Beware.

If you want to build your wealth to the point that you will be able to

retire look for a wealth manager or wealth coach that is a Real Estate

Broker or a licensed Fiduciary.  They are out there, just look for them.

Now, a wealth coach or wealth manager needs to be paid.  You can

either pay him (or her) out of your pocket OR let them earn a

commission.  Either way you are paying them. Sometimes you will pay

them directly and they will earn commissions. Don't worry about it. If

they are FIDUCIARIES every action they take will be for your benefit. 

Relax.  Be happy.

And if they are doing their job you will be able to retire.  It will take

time, but it will happen.

However, if you stay with that mutal fund or buy that annuity, you

probably won't be able to retire. Not ever. NEVER.  You will work until

you die.

 

Posted by

Please comment. All comments are greatly appreciated.

Bill Roberts

 

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Comments (24)

Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Bill, I am likey among the boomers that will work until the day I die.  I would need to leave California in order to afford retirement.

Feb 11, 2017 10:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Bill... love the idea of the coach instead of a planner. I'll probably keep working for a very, very long time. I've seen what stopping has done to my high school friends, most of whom have become fat and boring. Working keeps me sharp mentally and physically. And then I have the example of my mother, who retired at 65 and was back at work at 67--she just couldn't stand not working. 

Feb 11, 2017 11:18 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Bill,

I hope everyone is listening to your sage advice.  No plans to ever retire, we love what we do. A

Feb 11, 2017 11:20 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I do like your straight talk and a message many need to heed. Have a good weekend Bill Roberts 

Feb 11, 2017 12:34 PM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Howdy Bill.  Planning early a necessity yet it seems most of us are too busy in the now until we hit 50's and maybe slow down for a moment.  Good post.  Mark

Feb 11, 2017 02:57 PM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Thomas J. Nelson, Realtor, CRS I happy to hear that you are on target for 25 years from now.

I agree that continuing to work for personal reasons has merit, but the issue is that 90% of Baby Boomers CANNOT retire, even if they wanted to.

Bill Roberts

Feb 12, 2017 09:14 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets

Yep,, I see it in retail, senior citizens as greeters and cashiers that don't seem happy to be there. They didn't plan ahead, or banked on something that fell through or in some cases were victims of scams and or medical bills. 

Feb 12, 2017 09:18 AM
Bill Roberts

Yes, it is sad, but even they have a chance to "right the ship." They just need to reach out for that help.

Feb 12, 2017 09:38 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Endre Barath, Jr. I suspect that you are among that 10% that could retire if they wanted to. But I'm not suggestiing that you stop working. After all, we aren't competing for the same business.

Bill Roberts

Feb 12, 2017 09:17 AM
Endre Barath, Jr.

Bill it is so sad that such a large per cent of our country is living day to day, week to week with no hope in sight and part of it your post  explains it so well and you are providing them with a solution all they have to do is take advantage of your solutions...Endre

Feb 12, 2017 09:24 AM
Bill Roberts

Yes Endre Barath, Jr. Hope springs eternal, and there is a solution at hand.

Feb 12, 2017 09:39 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Kasey Kasey & John Boles and the team at Jon Gosche Real Estate, LLC A wealth coach can show options and strategies that many would overlook without the help.

Bill Roberts

Feb 12, 2017 09:19 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Yes Barbara Todaro They need to accept the "Set it and Forget it" philosophy. It takes time to bake a cake and to succeed with investments.

Bill Roberts

Feb 12, 2017 09:22 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Kathleen Daniels you have touched on another of my strategies: where to retire. Some might find Costa Rica or Mexico a good alternative if they can't amass the sufficient assets to retire where they are.

Bill Roberts

Feb 12, 2017 09:24 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Nina Hollander Yes, work keeps us young, but it must be something we love to do and still give us some time off. We need to enjoy life. All of it.

I still wnat to "see" Charlotte. Not for the grilled cheese, but I might try that too.

Bill Roberts

Feb 12, 2017 09:29 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Well Alexandra Ron and Alexandra Seigel As I see it you have already retired, but are keeping busy doing what you like. Not a bad choice. One of these days we will come to Santa Barbara to try that Mexican restaurant that you rave about.

Bill Roberts

Feb 12, 2017 09:32 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Thank you Scott Godzyk Straight talk is all I know how to do. You have a great weekend also.

Bill Roberts

Feb 12, 2017 09:33 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Howdy Mark Don McInnes, Sandpoint (I too am a Westerner). My message to these Baby Boomers that find themselves behind the eight ball is that there is hope.

Bill Roberts

Feb 12, 2017 09:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Roberts ~ hi Bill... you know you'll always be welcome in the Queen City... and I'll be happy to introduce you to whatever culinary delights you prefer over grilled cheese!

Feb 12, 2017 09:47 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Well Nina Hollander I wouldn't dream of going there without meeting you in person. I'm sure we would have much to talk about. Thank you.

Bill Roberts

Feb 12, 2017 09:54 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have been thinking about retirement since I bought my first rental house 30 years ago. You are so right that one cannot live well on that SS pittance.

Feb 12, 2017 07:11 PM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Debbie Reynolds Social Security is such a fraud. They take our money (saying they can do better with it than we can) and "invest" it for us. If what they took from me was put into a Roth account with Fidelity I would be getting about 3 or 4 times as much as I do with SSA AND pay no taxes on it to boot.

Bill Roberts

Feb 14, 2017 06:49 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Bill we are debt free and have enough to live comfortably. However, we'll keep working because we like it - and to fund my travel portfolio. Ha. D 

Feb 17, 2017 12:14 PM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Millions of baby boomers have homes with equity and will be considering a move to a new home that meets their changing needs. This segment should be part of almost every agent's marketing strategy.

 

Sep 06, 2017 07:11 PM