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Branson Thinks Retirement Sucks

admin — Fri, 05 Jun 2015 12:59:07 +0000

It seems like a lot of people spend their life thinking of and working toward “retirement.” The question is, however, what actually is “retirement?” It is defined in the Internet Dictionary as, “the action or fact of leaving one’s job and ceasing to work.” “Work,” however, is simply defined as a physical or mental effort to achieve a result or to earn income. So what’s a person to do…simply stop existing?

For the majority, work is something they “have” to do. It’s something that’s considered a four-letter word. They do it to earn an income and provide for their families. They long for, prepare for, and count the days until retirement so they can stop doing what they “have” to do, and do what they “love” to do.

What if work is something we truly love doing? It is said that the person who loves doing what they’re doing never has to go to “work.” Age doesn’t seem to matter. Sometimes, the more you do something the more you love it.

The problem with the concept of retirement is that so many people are stuck in the prehistoric belief that says “let’s sacrifice our time, happiness and ideal lifestyle now, because it will all pay off in the end.” What’s the end?

For some, the end means living well into their nineties. Others, however, face an early demise due to stress caused from working too hard. That’s something my father would call an “ass-backwards” approach.

Does that mean you don’t need to prepare for the future or any financial hiccups that may occur? Of course it doesn’t. This is what I do and I wouldn’t shoot myself in the foot by saying otherwise. What, however, if you were able to take the retirement “deadline” out of the equation?

If it were out of the equation, you would be able to top worrying about not having enough because you would be able to keep earning income doing what you loved to do until YOU decided you didn’t want to or couldn’t do it anymore. There would be no 62, 65, or 67 retirement ages. These age deadlines were created at a time when only 53% of men and 60% of women made it to 65.

For a lot of people, they work when they’re younger to achieve a greater job. Many people are making a lot more money in their 60’s and 70’s than they ever made in the years prior to them. By the time they reach what they truly love doing, someone pats them on the back and hands them a gold watch. They’re forced to stop doing what they love. If you’re one of these people, instead of “work” being the bad word, “retirement” is the word you dread.

If you want to take “retirement” out of your vocabulary, here are three very simple things you need to do now:

Concentrate on disassociating your age with how productive society thinks you are. Sounds too simple, right? Remember that you are the wisest people in your workforce. You have the most life experience when you are in your “later” years. I didn’t use the “R” word because it isn’t relevant. Just believe in yourself and the fact that truly your best is yet to come.
Retirement is really a force-fed life goal. A multi-billion dollar industry is built on it. Stop considering retirement as a goal. Instead, replace it with shorter duration significant life milestones. In Stephen
Covey’s famous book “7 Habits of Highly Effective People” he really puts the meaning of life into perspective. He asks what you would want the four most significant people to say at your funeral. What is your legacy? What do you want to be? You should keep the end in mind, and fill the time up to that point with meaningful, fulfilling, and significant action.
You are NOT defined by your job or your profession. My fiancé of 13 years was a high-powered, influential “C” suite executive of one of the largest healthcare organizations in the northeast. Cancer happened to her and our lives changed literally overnight. A diagnosis like that is devastating. Through it, however, we found a profound silver lining. The battle with cancer has given her/us time or reflection. She/we have come to realize that her perception of self-worth was based solely on her job status. Now we are self-employed and work jobs we absolutely love. We have tons of time to do things that are really important in life.

The problem is too many people feel safe in their current jobs because they make enough money even if they hate them. Don’t be afraid to stop doing what you hate and start doing what you love. Sit down and write out the things you choose to do. What do you enjoy doing on the weekends? What do you look forward to taking part in? Get creative and see how you can make an income doing those things. You’ll figure it out if you truly want to.

If you ask yourself if your work is something you want to stop doing, what is the answer? If the answer is “yes” then you should definitely take inventory. Your work should be something you don’t ever want to stop doing! Only you can make that happen.

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CREATING WEALTH OUTSIDE THE NORM

admin — Fri, 05 Jun 2015 12:57:48 +0000

Everyone wants to live out their retirement years in comfort. The problem is they fail to properly prepare for it. Research shows that only about 18% of those approaching retirement age are confident that they will have enough assets to live the life they want after retirement. Another 40% are either not very confident or not confident at all.

We all have different bucket lists for our retirement years, but if we want to be able to check things off that list, we need to be financially secure enough to do so. No matter what age you are, it is never too early to begin creating the wealth you want in retirement. Once you know what your goals are and what you are going to be using your money for, it’s time to start creating the wealth you’re going to need.

The million dollar question is, “How?” In a world where the political system has gone haywire, the health care system is a total chaos, and the chance of economic recovery is questionable, no one knows what the future holds. It’s much easier to be a pessimist right now than an optimist about having the wealth you’ll need for a secure future. It is more important than ever to find a secure way to make sure you have the ability to live the life you want and be able to after retirement and do the things you want to do.

The stock market may look good right now on the surface, but is it really the right way to go to prepare for the future. Traditional financial advisors would say, “Yes.” They would look for ways to invest your money with a “chance” of creating the wealth you want in retirement. Is that really what you want? Do you want to risk the chance of losing everything and living your “golden years” in poverty? I don’t think so.

Creating the wealth you want for retirement doesn’t have to be a risk. You don’t have to have a lot of money to get started either. Traditionally the first question they want to know the answer to is “how much” you have that you can invest. They want to know how much you’re willing to put in their hands and let them totally control. Preparing for retirement doesn’t have to be about “how much” or about risking what you do have. There’s a better way to create the retirement wealth you need.

If it takes what you make right now to get by, you might think you don’t have the money to save for the future. There’s a chance, however, that you are transferring away a substantial amount of money without knowing it. That’s where thinking out of the box can work for you. You can create wealth in a way that is outside the norm. Not only will you be able to have money to save for retirement, you may have more money to spend each month right now.

So where does this money come from? It comes from finding that money you’re transferring away in areas such as:

How you finance major purchases such as your automobiles, education, etc.
How you pay for auto, home, and health insurance

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Have you heard about Steve…?

admin — Fri, 06 Feb 2015 09:02:32 +0000

A simple but profound statement “We don’t know what we don’t know”. It’s uncomfortable and counterintuitive to seek out and embrace unfamiliar concepts. People are more comfortable with what they believe is right. The fact is we seek change only when it is absolutely necessary. Only when we are uncomfortable are we motivated to change; to learn new things and open to new ideas. Unfortunately, that motivation may come too little too late. When it comes to creating wealth, seeking new ideas and searching for unfounded truth is the crucial first step to secure a financially successful life.
There is an accepted truth about emotion in creating wealth; people buy when they should sell and sell when they should buy. The tragedy lies in our own human condition; the herd mentality. Like a startled herd of cattle, people will run off a cliff just because the person before them did. In other words, “If everyone is doing it, it must be right”. Take the economic debacle of 2008. The stock market lost more than half of its value essentially wiping out approximately 7.4 trillion dollars of Americans’ wealth. That translates in a drop of approximately $64,000 per American family. The peculiar thing is the decline happened quickly but it didn’t happen overnight. The market fell 54% over the span of 17 months. The proactive, independent thinkers cut their losses while the rest were told and believed they should ride out the storm; all while drowning in it. As the market fell why didn’t the masses make the necessary changes? Three words: fear, faith and ignorance. People listened to their “advisors” who were scrambling to protect their volume-driven fees, people put faith in the talking heads on TV as they declared “The market will come back!” and “It’s (the market) gone so low it can’t get any lower”. Unfortunately an ostrich can’t hear an attacking lion with its head buried in the sand. The old adage “Ignorance is bliss” was not the case when the majority of Americans’ wealth was lost in “can’t lose” investment vehicles. When it comes to our money we are taught and believe that 2+2 will always equal five. Ask yourself, who is teaching the lesson and what do they gain by teaching it. The moral of the story: we are told and believe that to grow money efficiently losses are a necessary evil and the gain will always make up for them.
Here’s a story about an old man named Steve. Steve never prepared for his later years properly; most likely because there were more pressing issues like planning a vacation or deciding on the next car to buy. In his prime,Steve was a renowned nuclear engineer who was sought after all over the world for his expertise in designing nuclear energy facilities. Steve did fairly well financially, but as he earned it he saved what he thought was adequate based on his colleagues’ advice and the rest he spent. Today, at age ninety-two, Steve lives in a two-bedroom apartment by himself. He sustains on meager, monthly social security benefits and the obligatory support of his three grown children. Without their financial help life would be much more difficult, if not impossible. His lifestyle is dictated by a strict budget, one which he has no control over. Instead of creating a legacy for himself, he has become a burden to those around him. The situation does not bolster self-esteem or create a sense of purpose for a once proud southern man. Financially, Steve followed the herd. He outlasted his 401k by many years all while believing his financial future was secure.

Hopefully, at this point you are asking yourself “Is it too late to do things differently with my money?” The answer is in a little-known but progressively accepted process. A person utilizes their own money as collateral (OPM) for financing purchases. This process never depletes their saved principal; therefore never interrupting the effect of compounding interest. Albert Einstein said it best “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it”. This process eliminates the need for outside financing; ideally creating a personal banking system.
The Infinite Banking Concept (IBC) is not difficult to understand, it requires an open mind and conversation with a person knowledgeable on the subject. Large corporations and the wealthy have been using this process for decades. IBC is not an infomercial get rich quick scheme, but a non-proprietary process, when established correctly will create significant wealth. However wealth is created on a realistic premise without the unrealistic expectation of getting there overnight.
Seeking financial truth requires diligence. To find the truth you need to actively ask questions. Question the provided proof and don’t take ideas at face value. Finding truth means questioning the status quo. Accepting we don’t know what we don’t know is the driving force in learning and expanding the circle of your knowledge. Knowledge is power and indeed the truth will set you free.

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Running On the Hamster Wheel….

admin — Fri, 06 Feb 2015 09:02:30 +0000

The Hamster Wheel

Albert Einstein said…“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

On a hamster wheel, it doesn’t matter how fast a hamster runs because it always ends up in the same place… right where it started. If one resourceful hamster could find a way to step off the wheel and let it run by itself, he would be the mightiest hamster in the horde (I didn’t realize a group of hamsters was called a horde until I Googled it).
I use a hamster wheel analogy since I believe what our culture has become is a horde of faster hamsters, we run faster (work harder) to stay in the same place. The hard workers, the accumulators do what they have been taught to always do; accumulate wealth the old fashioned way-by trading hours for dollars. It is the same thought process our parents used, and their parents used. It compels us to work 10 to 12 hour days and some weekends so that someday there will be enough resources to suddenly stop…. and then really start living. We are advised that when we retire the ideal plan is to live on less money each year so we can fall into a lower tax bracket. Think about that.. the mainstream tells us to plan on having less money in retirement so you can save on taxes??? This is the time of life when you want and need more money not less. Scary thing is nobody knows what the tax rates will be when it’s time to pay that deferred tax bill.

Why is the majority of the wealth in this country controlled by such a small percentage of the population; a population that has the time and the money right now to enjoy life the way they want to. The problem is the majority of people in this country are taught to play a winless, risky market game created by the same people that created the hamster wheel. It’s time to learn how to stop running and step off. Our society is one of the hardest working cultures in the world. We feel the need to be overly productive so we can provide for our families. We may also be driven to keep up with (or pass) the Joneses. Working these long hours we take for granted the amount of life we have left. I think Harry Chapin’s song “Cats in the Cradle” sums it up perfectly.

As we earn more dollars we face the psychological dilemma called Parkinson’s Law. Parkinson’s Law states, and I’m paraphrasing, that expenses always rise to meet incomes. As we move through life our incomes rise, we buy bigger houses, drive nicer cars, and dine at better restaurants. We haven’t gained more free time but in reality have less. We haven’t saved more, just obligated ourselves through debt to work longer. The scenario is all too common from the middle class right through to the high earners. This is a hamster wheel in motion. The problem is apparent, the answer is simple. As soon as you learn how to be most efficient in spending and saving the sooner you can lower debt, accumulate more money and finally become financially “free”. Now when I say “efficient in spending” I’m not implying that you hunker down in your home, don’t go out to eat or stop taking vacations; what I mean is there is an efficient strategy that uses 100 year-old tax code to have all the dollars you earn from today forward doing “double duty.” In other words all of your money continues to earn interest while at the same time you are using it to fund retirement, college expenses, a new car, buying or starting a business, or any expense we would typically use credit cards or go to a bank for. This process is what the wealthiest in country have been doing for decades. It’s a game where the rules are clear, constant, and concise. Once you learn the rules you will not only create significant wealth for yourself but also build exponential family wealth for generations to come. My name is Dave Belisle. I am a financial coach, a strategist. To better understand what I do think about what a financial planner does….that’s not my approach. I show people how to use money versus the typical “invest and hold” advice. I would like to invite you, a select group of readers to a contrarian, out-of-the-box journey of ideas. My hope is that the next few months will provide you insight into misconceptions that are significantly eroding your wealth, wealth you’re losing without even realizing it. The majority are losing tens of thousands of dollars every year doing what they believe is right. We’ll cover banking, national debt, taxes, expose the hidden dangers of the 401k (and why the government loves this plan), how financing automobiles the correct way can generate more retirement income than you could save in a lifetime, and how paying for your house the wrong way can be one of the biggest financial blunders of your lifetime. In the next issue we’ll discuss the most elusive area of lost wealth…opportunity cost. I’m really looking forward to your ongoing comments and thoughts. Please feel free to contact me at david@paramountwealthstrategies.com or call toll free at 888-615-0154.

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Until next time, Dave Belisle

Our parents told us we should always share so……

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