Welcome back to our continuing series, The 10 Beliefs. We’ve outlined the seven most common mistakes we see people make in planning and saving for retirement. Now we’re going to walk you through the ten things we believe you should be doing.
If you missed a post, or would like to start at the beginning, scroll to the bottom of this post for a complete listing.
Belief #1 - You Should Not Settle
Do you have an idea of what life might be like when you no longer must work? Are you confident you can realize that dream? If not, you aren’t alone. Many people worry their dream retirement may be unobtainable. They think they must work longer, make sacrifices, or learn how to do without. But we believe you should not have to settle for less, now or in retirement.
Most people dream about the day they no longer must work. But life and financial worries often force them to give up on realizing that retirement dream. Instead of reaching and planning to make it a reality, they settle. As a result, they end up fearful and not living their best life.
But it’s not their fault. They don’t teach us HOW to retire, they just tell us we can and should. And let’s face it, planning and saving for retirement is complicated. Money is complicated. It’s a world filled with too many confusing and often not understood choices. And our entire financial future rides on doing it right.
No pressure, right?
It’s understandable if you need help. Because you don’t have to, and shouldn’t, settle on your dreams.
Here’s a couple things to get you started:
1. Get control of your money. Know where every cent goes--what you’re spending and saving and where.
2. Invest your money for growth. Utilize your employer’s retirement plan--if available--and contribute with every paycheck. Then, make sure it’s invested in the stock market… Not sitting in cash and bonds.
3. Get a plan. Figure out where you are and where you want to go. What exactly does that retirement dream look like to you? Is it sun-soaked beaches and glowing green golf courses? Whatever the dream sounds feels like, a plan can tell you how you can get there.
We use three systems to give our clients the best chance of achieving their dream retirement. We give them a Personal Financial Website to get control of their money, a Tailored Investment Strategy to invest and grow their money, and a Custom Financial Blueprint to show them the way to their perfect retirement picture.
Have you settled for less than you deserve? We believe you should fight for your retirement dreams. One of the ways you can do this is to throw out all the generic advice and rules of thumb. In fact, that's Belief #2. You can read that here.
You can also grab all of the mistakes and beliefs in a free download. Grab it here.