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.
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