by Charlie Epstein (comments: 0) |
A recent article in the Huffington Post titled, "5 Signs that you are doing retirement all wrong," speaks to the notion I have of "Killing Retirement" in America.
The notion, that suddenly at Age 62, 0r 65 you will stop "working" and just travel, play golf read books or watch the grandkids, is long gone. A child born today has the life expectancy of age 120! Think about that. If that child retires at Age 65 will they play golf for the next 55 years!
I recently spoke to a long time client of mine. I meet him and his wife when they were 40 years old. (they are 63 now) They ran a very successful roofing business. John (name changed to protect the innocent) said to me, "Charlie, Betty and I want to retire at Age 50!. If you can show me how I can retire, at Age 50 with enough money to do whatever we want, you will earn my business."
I did just that, and at Age 50 John and Betty, sold their business to their key employee, retired, moved to Florida, and had enough money for him to "do nothing!" After 8 months of playing golf with guys, 30 years his senior, John started buying, fixing up and selling property.
He then went to work for a national clothing store, managing and developing the construction of new stores for them- but as he told me, "Charlie, I always did it on my terms. I only took the projects I wanted that interested me. I only worked a total of 6 months out of the year. Betty and I have gone through 5 beautiful RV's. We have traveled all over the US- seen every major national park 5 times! We own our home, have a condo in Orlando so we can take the grandkids to Disney whenever we want. I have been fully engaged in life, and still am, and best of all, I am relaxed, health and happy! I get up everyday excited and looking forward to the next challenge!"
Now that's what I call Desirement,...and not retirement. To be able to do what you are passionate about. What you want, when you want, they way you want, with no concern where the next "paycheck is going to come from."
Oh, yah. If you still want to play golf...swing for it!
Title: The Consumer is King (they just don’t know it)
Take out your mobile device and turn it on.
Now ......tell me, how many separate devices are built into your iPhone or Android device?
Let me list a few: There is a camera, phone, calculator, GPS, dictionary, library, tape recorder, weather...the list goes on, and on.
Twenty years ago, the consumer had to purchase each one of these devices separately at a combined price tag of over $20,000!
Today you and I can get all of these... and hundreds more for free!
Thanks to the innovative mind of Steve Jobs, and the innovative minds of millions of individuals around the globe who every day are creating thousands of new apps that make our lives easier. Best of all, you don't even need to pay for your phone anymore- and all those free apps that come with it. You just need to pay for the monthly phone plan.
What has made all this possible is technology and innovation.
The processing power of the micro-chip has been doubling every 24 months, since Gordon Moore, founder of Intel, declared his now famous Moore's Law in the 1970s.
This purchasing power dividend is reflected in almost all goods and services you and I are able to buy- from automobiles to refrigerators, to the heating systems in our home, and even our light bulbs. All work faster, easier and bigger than 25 years ago; and all are faster and cheaper than 25 years ago.
This means, of course, that we now have more information at our fingertips today than Ronald Reagan did in the 1980's - consider the enormity of that.
What are you going to do with your vast riches today?
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Charlie believes the cornerstone of creating success with your finances and your life, is to act like an entrepreneur! Eliminating an "entitlement mentality" and taking control of your life's choices and personal finances are the first steps to igniting and aligning your passions with your finances.