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You Aren’t Too Young to Know The Hard, Cold Facts About Retirement Savings

senior couple200It’s time to get real about your retirement. Here are the hard, cold facts about retirement savings that we all know but really don’t want to admit, even to ourselves:

The cost of living continues to rise and your Social Security retirement benefits are going to continue to diminish starting May 1 when the newly passed legislation goes into effect.

With the country trillions of dollars in debt, it logically follows that taxes will have to increase. This year “Tax Freedom Day” is April 24. You have to work 114 days of the year to earn the money to pay your taxes. What will it be by the time you retire?

The baby boomers are retiring giving us the highest number of retirees in history. A large percentage of these have either no savings or inadequate savings. How will they/you be provided for? What will their lifestyle be like?
Unfunded retirement lifestyle

Underfunded Retirement

Let me tell you what retirement is like when you are underfunded. Truly, I thought I had enough money to last me but I have outlived my savings. Fortunately, I am able to write, to learn new skills, and to find new revenue streams. But what if I could not?

Here are some thoughts that run through an unfunded or underfunded Senior’s mind:

What if have an emergency and have to spend un-budgeted money. How will I pay the rent? If I cannot pay my rent, what will happen to me?

Today at the grocery store, I didn’t have enough money to pay for what I needed. I don’t want to get food stamps but it looks like I’m going to have to apply. What if I don’t qualify.

I can buy some chicken this week if they have it on sale, otherwise I’ll have to stick with peanut butter.

I wish my kids understood that at Christmas and birthdays I don’t have money to buy gifts. I wish they could give me cash instead of a plaque or figurine or a plant. I appreciate these and my kids but perhaps they could give me a gift card that would cover the cost of new sneakers or something warm for winter.

It’s really cold today but I don’t dare turn on the heat because I can’t afford the utility bill as it is. OR It’s really is hot today— 110°— but I don’t dare turn on the air conditioner …

My car needs new tires but there’s NO WAY I can get them now.

I need to cut back on spending but I honestly don’t know what to cut.

Travel? Are you kidding. I haven’t even been able to afford gas for my car.

I haven’t personally experienced all of the above but some of those are comments from me and the rest from other Seniors I know. I have met few Seniors who are not concerned about finances in some way.

So, what’s my point?

So what’s my point? It certainly isn’t to get sympathy. It’s to give YOU a “heads up.” Don’t let this be you in a few years. I don’t care what you age is right now, retirement age will be here sooner than you think.

I am assuming that you have been paying in to Social Security (the money is yours, not a “gift” from the government), have invested in an IRA and perhaps you have purchased some stocks or other money yielding investments. If you can say “yes” to all of these, good for you. Do you feel sure that they will be enough for your retirement? Are you confident that you will still have them by the time you retire?

Another option

There IS another option, and some of you have sneered at it, made fun of it and made assumptions without checking the facts—the home-based business. Network Marketing is growing exponentially. Many people are very successful. There are many choices.

Not only that but there are companies that help you learn how to build a list and market online. The idea is to build multiple revenue streams so when retirement time comes, you will not only be ready, but you will be ready to live the lifestyle you dreamed your retirement would be.

Contact me if you want information about a Network Marketing Opportunity. Check out this option for marketing.

Editor’s note: This article appeared first in my Success Ventures Blog and I’m re-posting it for the readers here.

 

Click Here For Original Source Of The Article

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Why Ideas Are Not Enough (Or: How to Sell Out Like Iron Maiden)

Why Ideas Are Not Enough (Or: How to Sell Out Like Iron Maiden)

Link: Perennial Seller

"What if I'm not good at making ideas happen? I just like to have ideas!"

Ever since I started Side Hustle School on January 1, I've heard this question a surprising number of times. And believe me, I know it would be nice if you could just have ideas and then someone else does things.

That's not how it works for most of us, though—even those who are successful writers, entrepreneurs, or artists of all kinds. Ideas gain value not through brainstorming but through the getting-it-done phase that all good work needs.

A new book comes out today from stoic-in-chief Ryan Holiday. It's called Perennial Seller, and I was able to read an advance copy a couple months ago. To be honest, I get a bunch of advance copies in the mail, and I'm not always able to read most of them. This time, though, I brought it on a flight and was instantly hooked.

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