Where Are You Going To Be In The Year 2020? by Bill Roberts The Baby Boomer Retirement Planner.
Are you so worried about 2014-2015 that you can't see anything beyond
next year?
Well, I have news for you, 2020 will come no matter what you do now. Before
you know it, it will be December 31, 2019. You will be celebrating New
Year's Eve.
But when tomorrow comes, it will be 2020. Are you ready?
Without a plan, you will be doing the same thing you are doing now and will
be getting the same result. If you expect different results, you are insane.
Whether you are a Real Estate Agent, a small business owner, or you are
"Working for the man every night and day. And never lost one minute of
sleeping. Worrying 'bout the way things might have been. Big wheel keep on
turning."
Well yes, those big wheels are going to keep on turning.
What we all need is a source of income that is independent of our own
activity. This is like having a money tree that grows just because the sun isshining. And all you have to do is go out and pick what you need that day.
Wouldn't it be nice?
Is This You?
You say that your business will continue to support you, but you need to keep
working. What if you can't? What if you want to retire? What if your wife says
"Enough"? Will the money stop when you do?
You say that your real estate investments will support you, but you still have
to deal with the Terrible Ts (tenants, toilets, and termites) every day if you
expect to collect your rents.
You say that your 401(k) will throw off enough income to maintain your
lifestyle as long as you need it. But will it? Over 90% of retirement plans have
less than One Hundred Thousand Dollars, but you will need upwards of One
Million Dollars in your retirement plan if you expect to maintain your lifestyle.
You say that you have an annuity that will pay you One Thousand Dollars per
month for the rest of your life. Do you think that you can actually retire on
$1,000.00 per month? Even with another couple thousand dollars from Social
Security, you won't even be close to having enough to live, let alone maintain
your lifestyle.
The Solution
OK, So what is the solution?
You need recurring, residual income, like you would get if you had a bunch of
bonds, or the rights (royalties) to a hit song or two, or a small grove of fruit
(or nut or pulp) trees that get harvested each year. you need that money tree
that I spoke about earlier.
Real estate is still my favorite investment. But I absolutely don't want
residential income properties. Commercial properties are a lot easier to
manage, but even "good" commercial properties are in trouble right now.
They are in trouble because the economy is in trouble.
Land Is Good
Land is my particular favorite, but it doesn't carry itself. For the most part you
have to "feed " it (taxes, maintenance, insurance). We used to call this an
alligator. There are some "creative" ways to manage one of these alligators.
You could lease the property to a farmer for a number of years until you are
ready to use it yourself. I have other ideas along this line if you are interested.
Or you could "plant" trees. Take care of these trees for a few years and they
will take care of you forever. And you don't have to do it all by yourself.
Professional tree management is available.
Instead of "investing" in a retirement plan each month that may or may not be
able to support you, put that money each month into a self-directed Roth IRA
that invests in trees and other worthwhile investments.
Take charge of your future now. 2020 is just around the corner.
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