Retirement Planning was a term I really dislike many years ago.
After putting in some information and assumptions about inflation, the retirement funds I needed to have a basic lifestyle in my golden years was mind-boggling!
I was told I have a few options. (1) Save a lot more now!! (2) Work a lot longer before I retire (3) Rely on my children for retirement or (4) Rely on the government to feed me. Thankfully they did not say: Die earlier.
None of the above was appealing, so I exiled the concept to a remote part of my brain where it still remained.
However, I can say I’m retired now (before 50 years old), living a lifestyle which will only improve as I age.
How can that be? Let’s revisit some assumptions.
Some of the key traditional assumptions include: (A) one has no income after retirement and (B) one’s resources provide very little income during retirement. It’s no wonder why we need a huge retirement fund when we have such assumptions!
Thankfully I do not need to be bounded by these assumptions. And neither do you. How?
I am currently generating over 20% returns per year from stock rental. So what does that mean for my “retirement”?
Firstly, I am compounding my retirement funds > 20% a year every year and there’s no limit when that will stop. Perhaps when I’m too old to trade maybe in 30 years? Secondly, I am no longer bounded by traditional retirement planning rules. My returns are going to be so high in my golden years that I can have much better than “basic” lifestyle. I am already having a decent “retirement” now!
I know that COVID-19 has thrown a curveball at most of us and many are struggling with survival rather than retirement planning. However, time waits for no one. Compound interest needs a commodity we can neither buy, steal or borrow: Time.
If you are concerned about being able to retire comfortably, not wanting to burden your loved one, reluctant to rely on anyone else, and want to live a dignified life during your golden years, you should start doing something about it as soon as you can.
To see how you can also have more than 20% compounding returns per year, why not join me at a Masterclass where I will show you how I do it? You can then see if it is something you want to embark on. It is free!
To your better financial future!